<keyword id="19919864" type="General" weightage="100" keywordseo="Adani-Green-Energy" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Green Energy" meta.hostid="261" meta.entityid="Adani Green Energy">Adani Green Energy</keyword> on Thursday posted nearly a 95 per cent rise in consolidated net <keyword id="19933742" type="General" weightage="20" keywordseo="profit" source="keywords">profit</keyword> to Rs 629 crore for the June quarter, on the back of higher revenues. The company reported Rs 323 crore consolidated net profit for the quarter ended on June 30, a BSE filing showed. Total income rose to Rs 3,122 crore in the quarter from Rs 2,550 crore in the same period a year ago. <keyword id="19967296" type="General" weightage="20" keywordseo="adani-green" source="keywords">Adani Green</keyword> Energy <keyword id="22544556" type="General" weightage="20" keywordseo="CEO-Amit-Singh" source="keywords">CEO Amit Singh</keyword> said in the statement, "Adani Green is well on track to achieve its <keyword id="22544557" type="General" weightage="20" keywordseo="2030-capacity-target" source="keywords">2030 capacity target</keyword> of 50 GW, including at least 5 GW energy storage, in the form of pumped hydro, with sites already secured and clear visibility on evacuation." The operational capacity has expanded 31 per cent to <keyword id="22544558" type="General" weightage="20" keywordseo="10934-MW" source="keywords">10,934 MW</keyword>, with greenfield additions, including 2,000 MW of <keyword id="20322531" type="General" weightage="20" keywordseo="solar-capacity" source="keywords">solar capacity</keyword> in <keyword id="19966000" type="General" weightage="20" keywordseo="khavda" source="keywords">Khavda</keyword>, 418 MW of solar capacity in Rajasthan, and 200 MW of wind capacity in Gujarat, the statement said. The <keyword id="21517894" type="General" weightage="20" keywordseo="energy-sales" source="keywords">energy sales</keyword> increased 22 per cent to 7,356 million units from 6,023 MU in the year-ago period.

Adani Green Energy profit up nearly 95% to Rs 629 cr in Q1

<keyword id="19895436" type="General" weightage="20" keywordseo="Adani-Green-Energy-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Green Energy Ltd" meta.hostid="261" meta.entityid="Adani Green Energy Ltd">Adani Green Energy Ltd</keyword> (AGEL) on Friday posted a 38.85 per cent decline in consolidated net profit to Rs 310 crore for the March quarter, mainly on account of increased expenses. Its net profit was Rs 507 crore in the January-March period of the preceding 2022-23, the company said in an exchange filing. During the fourth quarter of FY24, the company's total income fell to Rs 2,806 crore from Rs 2,977 crore a year ago. The company's expenses surged to Rs 2,379 crore during the period under review, as against Rs 2,053 crore in the year-ago period. In a separate statement, the company said its operational capacity grew at 35 per cent year-on-year to 10,934 MW with greenfield addition of 2,848 MW renewable capacity, including 2,418 MW solar and 430 MW wind projects. With this, AGEL became the first company in India to cross the 10,000 MW <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword> capacity. AGEL's 10,934 MW operational portfolio will power more than 5.8 million homes and avoid about 21 million tonnes of CO2 emissions annually. The sale of energy increased 47 per cent year-on-year to 21,806 million units in FY24, primarily backed by strong capacity addition, consistent solar CUF (capacity utilisation factor) and improved wind and hybrid CUF. The revenue from power supply rose 23 per cent to Rs 1,575 crore from Rs 1,941 crore earlier. <keyword id="19919864" type="General" weightage="20" keywordseo="Adani-Green-Energy" source="keywords">Adani Green Energy</keyword> Ltd Chief Executive Officer Amit Singh said, "We have deployed the first 2 GW of the 30 GW of renewable capacity under construction at Khavda in just 12 months of breaking ground. "Our highest capacity addition of 2.8 GW in FY24 demonstrates our strong execution capabilities, and we are confident of continuing the momentum." The company aims to commission at least 5 GW of hydro-pumped storage projects by 2030, and set a higher target of 50 GW RE capacity by 2030, which will contribute towards India's non-fossil fuel capacity target of 500 GW, he said. AGEL further said it has commenced construction work on its first hydro pumped storage project (PSP) of 500 MW on the Chitravathi river. The project is located at Peddakotla in Sri Sathya Sai district of Andhra Pradesh. The existing reservoir will act as the lower reservoir and the upper reservoir is to be developed. The generation capacity will be 500 MW with estimated 6.2 generation hours in a day. All necessary approvals, including the final DPR approval are in place and financial closure has been achieved for the project. Part of Adani Group, AGEL is India's largest and one of the leading renewable energy companies in the world enabling clean energy transition. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank">Electric two-wheeler sales crater in April 2024 as prices increase amid reduced subsidies</a><a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/t20-world-cup-here-are-the-squads-announced-by-major-participating-countries-so-far/slidelist/109787165.cms" target="_blank">T20 World Cup: Here are the squads announced by major participating countries so far</a><a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a>

Adani Green Energy Q4 net profit declines 39 pc to Rs 310 cr due to rising expenses

<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword>, Shares of <keyword id="19934911" type="General" weightage="20" keywordseo="adani-power" source="keywords">Adani Power</keyword> settled 5 per cent higher on Wednesday after the company said it has commissioned 2,000 MW of solar capacity in <keyword id="19906863" type="General" weightage="20" keywordseo="gujarat" source="keywords">Gujarat</keyword> that has made it the first company in India with over 10,000 MW of renewable energy capacity. The stock of the company jumped 5 per cent each to end at Rs 617.85 and 617.75 apiece -- its upper circuit limit -- on the NSE and BSE. The scrip also hit a 52-week high on the bourses. It jumped 15.3 per cent so far this year, while in the last one year, it surged 214 per cent. At the close of the trading session, Adani Power's market valuation added Rs 11,339.4 crore to Rs 2,38,262.40 crore. In the volume trade, 90.26 lakh equity shares were traded on the NSE, while 6.79 lakh shares were traded on the BSE during the day. The 30-share <keyword id="19950208" type="General" weightage="20" keywordseo="bse-sensex" source="keywords">BSE Sensex</keyword> benchmark fell 27.09 points, or 0.04 per cent, to close at 73,876.82. The broader Nifty went lower 18.65 points to end at 22,434.65. On Wednesday, <keyword id="19895436" type="General" weightage="20" keywordseo="adani-green-energy-ltd" source="keywords">Adani Green Energy Ltd</keyword> said it has commissioned 2,000 MW of solar capacity at the giant Khavda solar park in Gujarat that has made it the first company in India with over 10,000 MW of renewable energy capacity. The company now has an operating portfolio of 10,934 MW, the largest in India. It has brought 2,848 MW renewables capacity on stream in FY24, according to a company statement. The firm is aiming for 45 GW renewable energy by 2030.

Adani Power shares climb 5%, and hits a 52-week high

<ul><li>On Wednesday, the power minister of <keyword id="66" type="COMPANY" weightage="20" keywordseo="Delhi">Delhi</keyword> wrote a letter to the Union power minister regarding the acute shortage of coal in the Capital. </li><li>The current stock at the stations is sufficient only for 1.5 days of power generation. </li><li>The <keyword id="608210" type="ORGANIZATION" weightage="20" keywordseo="Delhi-power">Delhi power</keyword> minister termed the matter as “critical” and warned Delhi of blackouts if the situation persists. </li></ul>On <a href="https://timesofindia.indiatimes.com/city/delhi/just-1-5-days-of-coal-stock-left-jain-warns-of-power-crisis/articleshow/64770043.cms">Wednesday</a>, the Delhi Power Minister Satyendar Jain wrote a letter to the Union Power Minister, RK Singh, regarding the acute shortage of coal in the Capital’s thermal power stations. The thermal generating stations in Dadri I and II, Jhajjar and Badarpur are facing <keyword id="487736" type="PERSON" weightage="20" keywordseo="Coal-shortage">coal shortage</keyword> due to the non-availability of wagons required for the transportation of coal. The supply has been on the down slope for almost 10 days now, since 19 June. The thermal stations generally keep a 15 day stock of coal with themselves, however, the current stock at the stations is sufficient only for 1.5 days of power generation. At least 56,000 metric tonnes (MT) of coal to required to generate power for a day in Delhi and the thermal stations have only about 90,000 MT of coal stock left. Considering the high power demands of the season, even this little stock is depleting fast. But, this is not a <a href="http://www.dnaindia.com/delhi/report-national-capital-glaring-at-blackout-as-coal-reserves-to-end-2630253">sudden </a>crisis as Delhi has been facing power shortage for weeks now. On 26 May, the city’s coal stock had come down to just 35,100 MT which is sufficient only for half a days’ supply. The government had then taken the matter to the Union Railway minister, Piyush Goyal after which it got better. However, the situation has now worsened agained, partially due to the current weather conditions that has pushed power demands through the roof. The city’s power demand reached an all time high of 6,934 MW on 8 June and is expected to even touch 7,000 MW in the subsequent weeks. Jain termed the matter as “critical” and warned Delhi of blackouts if the situation persists. He has requested Singh to “personally intervene” with the <keyword id="6355455" type="COMPANY" weightage="20" keywordseo="indian-railways">Indian Railways</keyword> so that wagons are urgently provided as a priority to transport coal to the Capital. Worried over the <a href="https://www.thehindu.com/news/cities/Delhi/coal-supply-in-power-plants-low-crisis-looms/article24274603.ece">power shortage</a>, Chief Minister Arvind Kejriwal has also written to Prime Minister Narendra Modi and Lieutenant Governor Anil Baijal seeking their intervention.

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Adani Green Energy profit up nearly 95% to Rs 629 cr in Q1

PTI

Adani Green Energy Q4 net profit declines 39 pc to Rs 310 cr due to rising expenses

PTI

Adani Power shares climb 5%, and hits a 52-week high

PTI

Delhi’s power crisis might lead to a blackout

BI India Bureau