Adani Energy Solutions Ltd (AESL) on Monday reported an increase in its project pipeline from Rs 17,000 crore in the first quarter of the current fiscal to Rs 27,300 crore in the second quarter (Q2 FY25).
The Adani Group company said its transmission network was at 23,269 circuit kilometres (ckm) in the July-September period, compared to 19,862 ckm in the same period of the previous year.
It also mentioned its construction of the longest private high-voltage direct current line.
The company maintained robust system availability of 99.7 per cent in Q2 FY25 and added 140 ckm to the network with the total transmission network at 23,269 ckm. It set up three new transmission projects during the quarter — Jamnagar, Gujarat, Navinal (Mundra), and Khavda Phase IVA, adding 2,059 ckm to the under-construction network.
"The distribution loss in the Mumbai utility is consistently improving and stands at 4.85 per cent in Q2 FY25," said Adani Energy Solutions.
In the quarter, AESL concluded the divestment of 500 MW of Adani Dahanu Thermal Power Station to a group company, in line with its ESG philosophy. This landmark step places AESL closer to its aspiration to be amongst the top 20 global companies in ESG ratings amongst the global utility industry.
The company raised Rs 8,373 crore through qualified institutional placement, qualifying it as the largest fundraiser in the Indian power sector. It also secured primary and secondary equity investments from marquee investors, such as Qatar Investment Authority and GQG Partners.
A compound annual growth rate of 7 per cent was reported in the regulatory asset base in Mumbai Discom since its acquisition. Adani Electricity Mumbai reported a 7 per cent year-on-year increase in its total units sold from 2,446 to 2,609 units. "Due to higher digital adoption rate, e-payment as a percentage of total collection increased to 83.27 per cent in the second quarter of Fiscal 2025 vs 79.19 per cent last year," the company said.
Indian share market ends in red ahead of key global policy decisions
Ahead of key policy decisions especially from the US Federal Reserve, the Indian stock market closed in red on Tuesday as selling was seen in the PSU bank, auto, IT, financial service, pharma, FMCG, metal, and realty sectors of Nifty.
Buy on dips strategy working well in Indian stock market amid sharp rebound
The surge in the Indian stock market on Friday helped the Indian benchmark indices end the week on a positive note. A strong 2,000-point rebound from the lows suggests that the buy-on-dips strategy is working well in the market, experts said on Saturday.
India’s GDP growth to hold steady in FY25, likely to clock 6.7 pc in FY26
India's economic growth will continue to hold steady in FY25 despite global uncertainties, with a projected GDP at 6.7 per cent in FY26, a report showed on Friday.
Sensex closes at 82,133 after 2,000 pts rally from day low
According to the experts, "Currently, the market is anticipating a revival in consumer spending, driven by the festive season and year-end holidays, adding to the sentiments. Additionally, an expectation of an increase in the US spending is propelling the IT sector."