Adani Green Energy net down 39%

Adani Green Energy, the renewable energy arm of Adani group, posted a 39% drop in its profit in Q4FY24 at Rs 310 crore as compared to Rs 507 crore in Q4FY23.

The company’s total revenue fell 6% at Rs 2,806 crore in Q4FY24 as compared to Rs 2,977 crore in Q4FY24. For full year, it’s profit went up 29% at Rs 1,260 crore in FY24 as compared to Rs 973 crore in FY23.

AGEL’s operational capacity grew at 35% y-o-y to 10,934 MW with greenfield addition of 2,848 MW renewable capacity including 2,418 MW solar and 430 MW wind projects.

Amit Singh, chief executive officer, Adani Green Energy said, “Our goal is to commission at least 5 GW of hydro pumped storage projects by 2030. We remain steadfast in our commitment to deliver affordable clean energy at an unprecedented scale and velocity and have set a higher target of 50 GW by 2030, which will contribute towards India’s non-fossil fuel capacity target of 500 GW.”