Ahmedabad (Gujarat), India, April 24 (ANI): Adani Energy Solutions has reported strong results for the January-March quarter and the entire 2024-25 financial year. Kandarp Patel, CEO of Adani Energy Solutions, in a video message to stakeholders, stated that its revenue grew by 42 per cent year-over-year to a record Rs 24,447 crore in 2024-25.
According to the CEO, the record revenue was primarily driven by contributions from the recently commissioned transmission project, robust energy sales and distribution utilities at Mundra and Mumbai, as well as contributions from the smart metering business.
The Adani Group company’s profit after tax for 2024-25 also witnessed a sharp increase of 103 per cent year-on-year, reaching an all-time high figure of Rs 2,427 crore.
For the quarter ended in March 2025, AESL’s revenue grew 36 per cent year-over-year to Rs 6,596 crore.
The profit after tax shows a steep year-on-year growth of 87% to Rs. 714 crore.
During the quarter, AESL secured two new transmission projects, the Navinal project and the Mahan transmission project, thereby increasing its new wins in 2024-25 to seven projects with a cumulative order book of nearly Rs 60,000 crore, Patel said.
AESL transmission network now stands at 26,696 kilometres and 90,236 MV of transformation capacity, further cementing its position as the country’s largest private sector transmission company.
In the distribution sector, Patel said its Mumbai distribution arm, AEML, sold 6 per cent more power in 2024-25, while its Mundra arm sold 44 per cent more, driven by robust electricity demand.
“The share of renewable power supplied to Mumbai is now 36 per cent as of 2024-25, and AESL is on track to achieve 60 per cent by 2026-27, Patel said in the video message.
“We are now targeting the highly lucrative commercial and industrial segment, which is CNI segment, by offering them a customized and reliable power solution. We see this bulk customer segment contributing significantly to our revenue and profitability going forward,” Patel said.
Data centres, malls, airports, IT parks, and specialised manufacturing are some of the target customer bases which AESL is tapping with its customised solutions, Patel apprised the stakeholders.
“Our smart metering business is evolving well and will become sizable in terms of contribution to our overall growth and profitability, besides offering a massive synergy to our distribution business,” he noted.
In 2024-25, AESL installed about 31.3 lakh smart meters and plan to install at least 70 lakh new meters in 2025-26, thereby achieving a cumulative number of minimum 1 crore meter by the end of 2025-26.
“We are in advanced stage of discussion with several developers to offer them a cooling as a service offering, where we take care of the entire cooling related capex. This is an exciting adjacency for us and we foresee homes, office and commercial establishment requiring significant cooling requirement in the years ahead,” Patel noted. (ANI)
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