January 18, 2021

Adani Inexperienced Power posts Rs 22 crore revenue for June quarter – enterprise information

Adani Inexperienced Power on Friday posted a consolidated web revenue of Rs 21.75 crore for June quarter primarily on the again of upper revenues. The corporate had a web lack of Rs 97.44 crore in April-June 2019-20, a BSE submitting mentioned. Complete earnings rose to Rs 878.14 crore in April-June 2020-21 from Rs 675.23 crore in the identical interval final yr.

The online export (of electrical energy) elevated to 1,382 million models within the first quarter, up 24 per cent from the year-ago interval. The agency is within the enterprise of renewable vitality.

“The Group (agency) has serviced all of the money owed obligations in the course of the quarter with out choosing moratorium as directed by Reserve Financial institution of India for curiosity and principal instalments falling because of banks and different monetary establishments / lenders,” the submitting mentioned.

In regards to the affect of Covid-19 pandemic, it mentioned,”the administration believes that the affect of this outbreak on the enterprise and monetary place of the Group just isn’t important.” Commenting on the outcomes Gautam Adani, Chairman, Adani Inexperienced Power mentioned,“The rising home and worldwide demand for cleaner and greener know-how, has accelerated the inexperienced vitality transition within the nation and we’re ready to guide this modification.” “In the present day, sustainability and financial system go hand in hand and as such the targets of the group should be aligned with the wants of the nation. The definitive steps taken by us on this journey are calculated to fulfill our ESG targets at every flip,” he added.

This quarter, the corporate has cemented its place within the world renewable area by successful the world’s largest photo voltaic bid and with this it has been ranked as the most important solar energy developer on the planet by Mercom Capital, Adani mentioned.

Firm’s MD&CEO Vneet S Jaain mentioned the monetary outcomes for the quarter show the resilience of Adani Inexperienced even in situations like Covid-19 pandemic. “Throughout our vegetation, we have now continued utterly regular operations even on this pandemic scenario and stay dedicated in the direction of energy provide being the ‘important providers’. This was additionally potential with our employees working diligently to fulfill energy requirement of the nation in such vital scenario,” Jaain mentioned.

The development exercise continued throughout all of the websites and has additional enhanced. The corporate seems to be ahead to proceed its operations and development work usually whereas pursuing all precautions for security of all staff, he added.

“Adani Inexperienced Power has progressed to develop into the most important solar energy producer on the planet, having gained the world’s largest photo voltaic bid of eight GW and, with this, we have now moved nearer to our purpose of commissioning renewable capability of 25 GW by 2025,” Jaain additional mentioned.