Adani Green Energy Q4 results posts ₹ 55 crore net profit

Adani Green Energy on Monday posted a consolidated net profit of ₹55.64 crore for the March 2020 quarter, helped by lower expenses.

The clean energy firm had logged a consolidated net loss of Rs 94.08 crore in the corresponding quarter a year ago, a company statement said.

Its total income stood at ₹718.66 crore for the quarter under review as against ₹718.73 crore a year earlier.

On a full-year basis, the company reported narrowing of consolidated net loss at ₹67.96 crore in 2019-20. In the 2018-19 fiscal, its net loss was ₹475.05 crore.
Total income for 2019-20 stood at ₹2,629.07 crore, as compared to ₹2,130.99 crore in 2018-19.

Commenting on the results, company’s chairman Gautam Adani said in the statement, “Adani Group has always maintained sustainability as a priority at the group. With the long-lasting impact that COVID-19 is due to have on all sectors, sustainability-driven business is imperative.”

He further said that green and renewable energy-motivated investments will continue in this fiscal year.

At Adani Group, “we are committed towards nation building and ensuring electrification for the growth of the economy. We are confident in emerging stronger at the end while delivering value to all stakeholders”, he added.

Total revenue of the company increased by 24 per cent to ₹2,549 crore in FY 2019-20.

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