Q1FY21 results: Adani Green Energy records net profit of Rs 21.75 crore

Adani Green Energy Limited is an Indian renewable energy company and part of the diversified Adani Group. It announced its quarterly results on September 11, 2020. The company posted a consolidated net profit of Rs 21.75 crore for Q1FY21, which increased by 122.32 per cent YoY, as compared to Q1FY20 when it reported consolidated net loss of Rs 97.44 crore.                                                                                                                                                               

The consolidated net sales reported in Q1FY21 came in at Rs 778.51 crore, which increased by 17.81 per cent YoY from Rs 660.81 crore in Q1FY20. At EBITDA level, the company stood at Rs 579.98 crore in Q1FY21 that increased by 59.91 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 362.69 crore.                                                                                                                                                               

EBITDA margin as of Q1FY21 was at 74.5 per cent that increased by 19.61 percent YoY. The net profit margin in Q1FY21 came in at 2.79 per cent, which increased by 17.54 per cent YoY. The net profit margin in Q1FY20 was at negative 14.75 per cent.               

During the June quarter, the company won the single largest solar development bid ever awarded, totalling 8 MW and commissioned 50 MW Kilaj Solar plant in Rawra, Rajasthan.

The share gained 4.98 per cent and closed at Rs 608.45 in today’s session on BSE.