AdEnergy Solutions Limited (AESL), a prominent player in the energy sector, announced its consolidated financial results for the second quarter (Q2) and the first half (1H) of the fiscal year 2024. The company demonstrated impressive growth, particularly in the areas of energy transmission and distribution, as well as smart metering services.
During Q2 FY24, AESL achieved significant financial and operational success, solidifying its position as the largest private transmission and distribution company in India. The consolidated revenue for Q2 FY24 (Year-on-Year) increased 13 percent, reaching Rs 3,421 crore. Additionally, the consolidated operational EBITDA grew 10 percent, reaching Rs 1,368 crore, and the Profit Before Tax (PBT) rose 48 percent to Rs 370 crore. The company also saw a remarkable 46 percent growth in Profit After Tax (PAT), reaching Rs 284 crore, with a consolidated cash profit of Rs 757 crore for the quarter.
AESL’s transmission lines, namely Warora Kurnool (WKTL) and Karur (KTL), exhibited exceptional performance, achieving a transmission system availability rate of 99.68 percent. These lines added 219 circuit kilometres (ckms) to the operational network, resulting in a total network of 19,862 km.
Furthermore, AESL experienced a 9.56 percent year-on-year increase in energy demand (units sold), totaling 2,446 million units. The company successfully maintained a supply reliability rate of 99.9 percent (Average Service Availability Index), while also improving distribution losses from 6.0 percent to 5.81 percent. Additionally, the adoption of digital payment methods drove e-payment as a percentage of total collection to 79.2 percent in Q2 FY24.
AESL also secured the Letter of Award (LOA) for four smart metering projects in Maharashtra, Andhra Pradesh, and Bihar, amounting to 14.76 million smart meters with a contract value of Rs 174 billion. The company’s under-construction pipeline for smart metering projects reached a total of 19.4 million smart meters, spread across eight projects with a contract value of Rs 232 billion.
These impressive results reflect AESL’s commitment to growth, innovation, and the expansion of its services within India’s energy sector. The company’s strong order pipeline of Rs 150 billion in the transmission business and Rs 230 billion in the smart metering business further emphasizes its robust and resilient business model.
AESL remains dedicated to delivering top-notch energy solutions while upholding high governance standards. These commitments are vital for enhancing long-term value creation for all stakeholders.