Latest news with #VneetSJaain
Time of India
05-05-2025
- Business
- Time of India
Adani stocks jump on reports of plea to drop US charges
NEW DELHI: All listed Adani group stocks ended sharply higher on Monday, amid reports that 's representatives met with US administration officials to seek the dismissal of criminal charges in a . The stock of Adani Total Gas zoomed 11%, jumped 7%, rallied 6.6%, surged 6.3% and Adani Power climbed 5.9% on BSE. Tired of too many ads? go ad free now In Nov last year, US authorities charged Adani, his nephew and ED Sagar Adani and MD Vneet S Jaain for being involved in an alleged scheme to pay bribes to Indian government officials to win solar energy contracts, and concealed the plan as they sought to raise money from US investors.
Time of India
28-04-2025
- Business
- Time of India
Adani Q4 results: Adani Green surpasses $1 billion, Total Gas revenue rises to Rs 1,448 crore
Adani Green Energy Ltd (AGEL) posted a strong set of financial results on Monday, reporting a 25.54% rise in consolidated net profit to Rs 383 crore for the March quarter, driven primarily by higher revenues. The company had registered a net profit of Rs 310 crore in the same period last year, according to a regulatory filing. The company's EBITDA grew by 22% annually reaching Rs 8,818 crores Total income during the quarter rose to Rs 3,278 crore, up from Rs 2,841 crore a year earlier. For the full financial year ending March 2025, AGEL's consolidated net profit jumped to Rs 2,001 crore from Rs 1,260 crore the previous year, while total income climbed to Rs 12,422 crore from Rs 10,521 crore. The company's board has approved the reappointment of Vneet S Jaain as Managing Director for a further five-year term starting 10 July 2025, subject to shareholder approval. Additionally, Raminder Singh Gujral has been reappointed as an Independent Director for a second three-year term, effective the same date. Commenting on the performance, Sagar Adani, executive director of AGEL, said, "We are playing a pivotal role in India's renewable energy growth, which is evident from our historic 3.3 GW greenfield capacity addition in FY25. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Don't Miss The Top Packaging Trends Of 2025 Enhance Your Brand With The Latest Insights Packaging Machines | Search Ads Search Now Undo We contributed 16% to the nation's utility-scale solar and 14% to wind energy additions, setting new benchmarks for rapid, large-scale renewable energy deployment." Part of the Adani Group, Adani Green Energy Ltd develops, owns, and operates utility-scale grid-connected solar, wind, hybrid, and energy storage solutions. Meanwhile, Adani Total Gas Ltd (ATGL) also announced its results for the January–March quarter and the full financial year 2024–25. The company recorded a 13 per cent growth in volumes during the quarter and a 15 per cent rise over the full year. ATGL's standalone revenue from operations rose by 15 per cent year-on-year to Rs 1,448 crore for the March quarter. For the full year, revenue grew by 12 per cent to Rs 5,398 crore, fuelled largely by higher volumes in the CNG segment. The company expanded its network to 1,072 CNG stations, adding 73 new stations during the quarter. PNG home connections crossed the 1 million mark, reaching 1.14 million connections and impacting over 4 million lives daily. ATGL also grew its industrial and commercial customer base by adding 468 new consumers, bringing the total to 10,417 connections. Operational excellence remained a focus, with ATGL completing 24,906 inch-km of cumulative steel pipeline network. Suresh P Manglani, executive director and CEO of ATGL, said, that during the year, ATGL continued its thrust to expand access to PNG and CNG to large masses. 'ATGL has maintained momentum of delivering robust operational and infrastructure performance with a 15 per cent year-on-year increase in volume, accelerating operations excellence supported by digitalisation which has contributed in maintaining an EBITDA of Rs 1,167 crore despite challenges faced by the city gas sector on domestic gas allocation." Highlighting ATGL's push into sustainable businesses, Manglani said, "All the above efforts are in line with our commitment to spearhead India's energy mobility transition journey with a customer-centric approach and continue to have sustainable growth." Stay informed with the latest business news, updates on bank holidays and public holidays . Master Value & Valuation with ET! Learn to invest smartly & decode financials. Limited seats at 33% off – Enroll now!
NDTV
28-04-2025
- Business
- NDTV
Adani Green Energy Profit Rises 25.54% To Rs 383 Crore In Q4
New Delhi: Adani Green Energy on Monday posted a 25.54 per cent rise in consolidated net profit to Rs 383 crore in the March quarter, primarily driven by higher revenues. The company posted a consolidated net profit of Rs 310 crore a year ago, as per a regulatory filing. The company's total income rose to Rs 3,278 crore during the quarter from Rs 2,841 crore in the same period a year ago. The consolidated net profit in FY25 also rose to Rs 2,001 crore from Rs 1,260 crore in FY24. Similarly, total income in the current fiscal year rose to Rs 12,422 crore from Rs 10,521 crore in the same period a year ago. The board, on the recommendation of the nomination and remuneration committee, approved re-appointment of Vneet S Jaain as the Managing Director of the Company, for five years from July 10, 2025, subject to approval of the shareholders, it said. Raminder Singh Gujral has been appointed as an Independent Director from July 10, 2025, for a second term of three years, it said. In a separate statement, Adani Green Energy Executive Director Sagar Adani said, "We are playing a pivotal role in India's renewable energy growth, which is evident from our historic 3.3 GW greenfield capacity addition in FY25. We contributed 16 per cent to the nation's utility-scale solar and 14 per cent to wind energy additions, setting new benchmarks for rapid, large-scale renewable energy deployment. Part of the Adani Group, Adani Green Energy Ltd develops, owns, and operates utility scale grid-connected solar, wind, hybrid and energy storage solutions.
