- Consolidated total revenues higher by 75% at Rs. 32,245 crore in 9M FY23 vs Rs. 18,379 crore in 9M FY22; due to improved tariff realization and higher one-time revenue recognition by Rs. 4,769 crore on account of regulatory claims.
- Consolidated EBITDA for 9M FY23 higher by 103% at Rs. 11,851 crore vs Rs. 5,847 crore in 9M FY22; due to improved tariffs and higher one-time revenue recognition.
- Profit Before Tax for 9M FY23 higher at Rs. 6,777 crore vs Rs. 444 crore in 9M FY22; due to higher EBITDA including one-time income.
NE BUSINESS BUREAU
AHMEDABAD, FEB 8
Adani Power Limited on Wednesday reported a consolidated total income for Q3 FY 2022-23 stood 48% higher at Rs. 8,290 crore as compared to Rs. 5,594 crore in Q3 FY 2021-22, aided by higher regulatory income, increased operating capacity, improved tariff realisation under long term Power Purchase Agreements (“PPA”), and revival of 1,234 MW Bid-2 PPA with Gujarat DISCOMs in March 2022. Financial performance for Q3 FY 2022-23 includes the performance of the 1,200 MW power plant of Mahan Energen Ltd., which was acquired in March 2022.
The EBITDA for Q3 FY 2022-23 stood marginally lower at Rs. 1,996 crore, as compared to Rs. 2,003 crore in Q3 FY 2021-22, constrained mainly by higher fuel cost, which was partially offset by higher one-time income.
The EBITDA for 9M FY 2022-23 stood higher by 103% at Rs. 11,851 crore, as compared to Rs. 5,847 crore in 9M FY 2021-22, aided by improved tariff realization, higher one-time revenue recognition, and revival of 1,234 MW Bid-2 PPA.
Profit Before Tax for Q3 FY 2022-23 was Rs. 212 crore, as compared to Profit Before Tax of Rs. 204 crore for Q3 FY 2021-22. Profit Before Tax for 9M FY 2022-23 was Rs. 6,777 crore, as compared to Profit Before Tax of Rs. 444 crore for 9M FY 2021-22.
“Adani Power Ltd has consistently demonstrated its superior skills in project execution, excellence in power plant operations, and capabilities in fuel and logistics management, which has helped it turn around stressed power assets acquired under schemes of corporate debt resolution, apart from setting various benchmarks in its greenfield power plants,” Anil Sardana, Managing Director, Adani Power said in a statement.
With resolution of most of its regulatory issues now, the company is well placed in terms of liquidity to meet its present commitments and growth requirements, he added.
Adani Power, with its strategically located and efficient power plants, is poised to gain maximum advantage from India’s growing power demand and provide stable, reliable and affordable power supply, while ensuring the betterment of communities around it, he opined.
