New Delhi, Jan 22 (PTI) Adani Energy Solutions Ltd (AESL) on Thursday posted an over 8 per cent decline in consolidated net profit to Rs 574.06 crore for December quarter, mainly due to higher tax expenses.
AESL had logged a net profit of Rs 625.30 crore in the same period a year ago, the company said in an exchange filing.
According to the filing, the company made a provision of total tax expenses of Rs 226.17 crore, whereas it had got tax credit of Rs 66.07 crore in the year- ago quarter.
Total income however rose to Rs 6,944.44 crore from Rs 6,000.39 crore in the third quarter of 2024-25 fiscal, aided by increased revenues from key businesses.
From transmission, the company earned a revenue of Rs 2,426.36 crore as against Rs 2,034.76 crore a year ago. Revenues from distribution business increased to Rs 3,103.62 crore from Rs 2,972.42 crore.
"Q3FY26 adjusted PAT of Rs 574 crore increased by 30.4 per cent YoY translating from strong profitability at EBITDA and PBT level. The comparable PAT has been adjusted for a one-time positive impact of deferred tax of Rs 185 crore in Q3FY25 last year for a like-for-like comparison," the company said in a statement.
CEO Kandarp Patel said the company has commissioned four transmission projects during the current financial year.
"The company reached an impressive mark of approximately 92.5 lakh meter, the highest in the country by any player at a benchmark daily installation rate. We expect a substantial increase in our asset capitalisation program across all core segments and expect strong momentum in bidding activity in the short to medium term," he added.
AESL, a part of the Adani portfolio, is a multidimensional organization with presence in various facets of the energy domain, namely power transmission, distribution, smart metering, and cooling solutions. PTI ABI ABI ANU
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