- Q3 FY24 continuing EBITDA more than triples y-o-y to
5,059 Crore
NE BUSINESS BUREAU
AHMEDABAD, JAN 25
Adani Power Ltd, a part of Adani portfolio companies, on Thursday reported multi-fold jump in consolidated net profit at Rs 2,738 crore for the quarter ending December 31, 2023, as strong industrial demand drove a recovery from a massive slump in profit the previous year. It reported consolidated net profit of Rs 9 crore in the year-ago period.
The Adani Group firm’s revenue rose 67% to Rs 12,991 crore in Q3FY24 as against Rs 7,764 crore in Q3FY23.
Commenting on the quarterly results, S B Khyalia, CEO, Adani Power Limited, said, “Adani Power continues to demonstrate its leadership across domains by achieving ever-higher standards of excellence, as evidenced by the financial results for the third quarter of FY 2023-24. The Company’s strategically located power plants and optimal capacity allocation between PPAs and merchant capacities, coupled with its strength in fuel management & logistics and excellence in power plant O&M, have allowed it to address growing power demand and generate robust profitability.”
“ This has resulted in improved liquidity, which has in turn been utilized to reduce debt. The ongoing brownfield capacity expansion of 1,600 MW at Mahan is on track, while we are moving ahead to extend our leadership further inorganically. We are excited to be a part of nation-building efforts through provision of reliable electricity supply from our highly efficient power plants while keeping sustainability goals at the forefront of our agenda,” he added.
Financial performance
| Particulars
(Rs. in Crore) |
Q3 FY 2023-24 | Q3 FY 2022-23 | Change +/- | 9M FY 2023-24 | 9M FY 2022-23 | Change +/- |
| Continuing Revenue from Operations | 13,143 | 7,602 | 72.9% | 36,380 | 25,961 | 40.1% |
| Continuing Other Income | 262 | 171. | 53.3% | 793 | 644 | 23.2% |
| Total Continuing Income | 13,405 | 7,773 | 72.5% | 37,173 | 26,604 | 39.7% |
| Total Reported Income | 13,355 | 8,290 | 61.1% | 46,400 | 32,245 | 43.9% |
| Continuing EBITDA | 5,059 | 1,479 | 242.1% | 13,516 | 6,210 | 117.6% |
| Reported EBITDA | 5,009 | 1,996 | 151.0% | 22,743 | 11,851 | 91.9% |
| Profit After Tax | 2,738 | 9 | Very high % | 18,092 | 5,484 | 230.0% |
Continuing Operating Revenues and Continuing Other Income exclude prior period income recognition on account of coal shortfall claims.
