Ahmedabad: Adani Green Energy Limited (AGEL), a part of the Adani Group, today announced its financial results for nine months (9M) and quarter ended December 31, 2019. Total Revenue for 9M FY20 up by 35% y-o-y, to Rs 1,853 crore from Rs 1,377 crore. Revenue from Power generation for 9M FY20 up by 7% to Rs 1,464 crore from Rs 1,371 crore y-o-y on account of full period operationalization and additional project commissioning. The total number of units sold in 9M FY20 is 3,081 MUs, up 10% y-o-y.

EBITDA for 9M FY20 increased by 2% to Rs 1,266 crore from Rs 1,240 crore on account of increased operating capacity. EBITDA margin during 9M FY20 was 89% compared to 90% in 9M FY19.EBITDA for Q3 FY20 at Rs 347 crore as compared to Rs 399 crore y-o-y. EBITDA margin during Q3 FY20 was 87% compared to 87% in Q3 FY19. Extended monsoon this year has resulted in lower radiation and impacting operational performance.

Commenting on the quarterly results of the Company, Mr. Gautam Adani, Chairman, Adani Green Energy Limited said,” We are committed to creating a greener future and our new initiative coming together to support the engagement and participation of the power sector. This quarter, we are proud that Adani Green Energy Limited became India’s first investment-grade offering from the nation’s renewable energy sector to global investors.”

Jayant Parimal, CEO, Adani Green Energy Ltd said, “Adani Green Energy Limited had a strong quarter and is rapidly cementing its place as the leading Renewable Energy player in India. We have reached an operational capacity of 2.50GW, and are on course to reach 4.29GW by FY 2021. We wish to become among the leading global players in renewables.