Adani Green Energy reported a surge in its Q2 FY24 consolidated net profit and revenue driven by a rise in sales and operational capacity (24 per cent), especially that of solar and wind hybrid power plants.

The net profit in the reporting quarter rose 150 per cent year-on-year to ₹372 crore, while revenue from sale of power rose 80 per cent to ₹1,984 crore. On a sequential basis, profit rose 15.5 per cent, while revenue fell about 3 per cent.

Total expenses surged around 43 per cent in the reporting quarter largely due to employee benefit expenses and finance costs.

In the quarter, Adani Green’s operating capacity was at 8,316 MW, while sale of energy at 5,737 units increased 87 per cent y-o-y. The capacity utilisation factor (CUF), which measures the ratio of the actual output to the total production capacity, was at 25.2 per cent for Adani Green’s solar portfolio, 40.2 per cent for the wind portfolio and 45.4 per cent for the hybrid plants. The CUF increased in the range of 90 to 880 basis points across all its plants.

The EBITDA from power supply was at ₹1,131 crore, up 62 per cent y-o-y, while the EBITDA margin remained more or less stable at 91.3 per cent.

The company will be installing advanced solar modules and a 5.2 MW wind turbine at Khavda in Gujarat.

In July, Adani group Chairman Gautam Adani said the group is planning to build a 20 GW hybrid renewable energy park in Khavda.

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