New Delhi: Adani Green Energy posted Monday a consolidated net profit of Rs 55.64 crore for the March 2020 quarter. This figure was achieved due to lower expenses.
Profits go up
The clean energy firm had logged a consolidated net loss of Rs 94.08 crore in the corresponding quarter a year ago. The company gave the statement it released Monday. Adani Green Energy’s total income stood at Rs 718.66 crore for the quarter under review. Its income stood at Rs 718.73 crore a year earlier.
On a full-year basis, the company reported narrowing of consolidated net loss at Rs 67.96 crore in 2019-20. In the 2018-19 fiscal, its net loss was Rs 475.05 crore. Total income for 2019-20 stood at Rs 2,629.07 crore, as compared to Rs 2,130.99 crore in 2018-19.
In the statement, the company’s chairman Gautam Adani commented on the sustainability factor. “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,” Gautam Adani said. 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,” added the chairman.