Adani Energy Solutions Q2 Results: Profit Rises 46.1% On Higher Operational Income

• Revenue up 13% at Rs 3,673.9 crore vs Rs 3,251.5 crore.

• Ebitda up 29.3% at Rs 1,504.6 crore vs Rs 1,163.6 crore.

• Margin at 40.95% vs 35.78%.

• Reported profit up 46.1% at Rs 284.1 crore vs Rs 194.5 crore.

The company's transmission revenue was up 8.4% year-on-year, on the back of revenue contribution from new line elements. The operational Ebitda was up 9% YoY to Rs 854 crore, driven by strong revenue, according to the investor presentation.

The distribution segment's revenue and net profit grew 14.6% and 2.55 times, respectively, in Q2. The revenue growth was mainly driven by higher energy demand.

The company added 219 circuit kilometers to its operational network, taking the total to 19,862 ckms in the September quarter, the investor presentation said.

In the distribution utility segment, the company maintained supply reliability and transmission availability at 99.99% and 99.88%, respectively. The segment's consumer base rose 1.6% YoY to 3.15 million, while the number of complaints reduced 2.5% YoY to 1,29,258.

The collection efficiency improved to 102.21% from 100.76% a year ago. E-payment share, as a percentage of total collection, rose to 79.19% as compared with 74.86% a year ago, due to greater adoption of digital payment channels.

The total smart metering under-construction pipeline stands at 19.4 million smart meters, consisting of eight projects with a contract value of Rs 232 billion, the company said.

"Our pipeline of projects in both transmission and smart metering will further strengthen our pan India presence and consolidate our position," said Anil Sardana, managing director at Adani Energy Solutions.

"AESL is consistently benchmarking to be the best-in-class and is pursuing disciplined growth with strategic and operational de-risking, capital conservation, ensuring high credit quality, and business excellence with high governance standards," he said.

Shares of Adani Energy Solutions closed 0.80% higher at Rs 771.25 apiece on Monday ahead of the announcement, as compared with a 0.92% rise in the benchmark S&P BSE Sensex.