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Adani Green Q1 net at Rs 22 crore

Gautam Adani, Chairman, Adani Green Energy
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Gautam Adani, Chairman, Adani Green Energy

Highlights

Adani Green Energy on Friday posted a consolidated net profit of Rs 21.75 crore for June quarter mainly on the back of higher revenues

Hyderabad: Adani Green Energy on Friday posted a consolidated net profit of Rs 21.75 crore for June quarter mainly on the back of higher revenues. The company had a net loss of Rs 97.44 crore in April-June 2019-20.

Total income rose to Rs 878.14 crore in April-June 2020-21 from Rs 675.23 crore in the same period last year. The net export (of electricity) increased to 1,382 million units in the first quarter, up 24 per cent from the year-ago period.

The firm is in the business of renewable energy.

"The Group (firm) has serviced all the debts obligations during the quarter without opting for moratorium as directed by Reserve Bank of India for interest and principal instalments falling due to banks and other financial institutions / lenders," the company said in a statement. About the impact of Covid-19 pandemic, it said: "the management believes that the impact of this outbreak on the business and financial position of the Group is not significant."

Gautam Adani, Chairman, Adani Green Energy, said:"The growing domestic and international demand for cleaner and greener technology, has accelerated the green energy transition in the country and we are prepared to lead this change."

"Today, sustainability and economy go hand in hand and as such the goals of the organization must be aligned with the needs of the nation. The definitive steps taken by us in this journey are calculated to meet our ESG goals at each turn," he added.

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