Adani Green Energy on Monday reported a nearly 51 per cent rise in consolidated net profit to Rs 323 crore in the June 2023 quarter, mainly driven by higher revenues.

The company had posted Rs 214 crore consolidated net profit in the quarter ended June 2022, a BSE filing showed.

Total income rose to Rs 2,404 cr from Rs 1,701 crore in the year-ago period.

With an operational capacity of 8,316 MW, it continued to have the largest operating renewable energy portfolio in the country, the company said in a statement.

Energy sales increased 70 per cent year-on-year to 6,023 million units in the June quarter from 3,550 million units.

The solar portfolio CUF (capacity utilisation factor) has improved 40 basis points year-on-year to 26.9 per cent in the first quarter with consistent high plant availability and improved solar irradiation, it said.

GAIL profit drops

State-owned GAIL (India) Ltd on Monday reported a 51.5 per cent drop in June quarter net profit on weak earnings in the petrochemicals business as well as in the marketing of natural gas.

Standalone net profit of Rs 1,412 crore, or Rs 2.15 per share, in April-June (first quarter of current 2023-24 fiscal year) compared with Rs 2,915.19 crore, or Rs 4.38 a share, in the same period a year back, according to a company statement and stock exchange filing.

Margin decline led to the firm booking a pre-tax loss of Rs 301 crore in the petrochemical business while earnings from natural gas marketing halved to Rs 1,013.63 crore.

Revenue dipped 14 per cent to Rs 32,227.47 crore.

Adani Energy

Adani Energy Solutions, earlier known as Adani Transmission, on Monday posted an
8 per cent rise in its consolidated net profit at Rs 181.98
crore in the June quarter, mainly on the back of higher revenues. The consolidated net profit of the company was Rs 168.46 crore a year ago.

Total income rose to Rs 3,772.25 crore during the quarter from Rs 3,249.74 crore a year ago.