- Q1 FY25 continuing revenue grows 30% y-o-y to Rs. 15,052 Crore
- Q1 FY25 continuing EBITDA grows 53% y-o-y to Rs. 6,290 Crore
NE BUSINESS BUREAU
AHMEDABAD, AUGUST 1
Adani Power Ltd, a part of Adani portfolio companies, on Wednesday reported that its profit before tax grew 95% y-o-y to Rs. 4,483 crore for the first quarter ended 30th June 2024.
The consolidated continuing total revenue for Q1 FY25 was higher by 30 per cent at Rs 15,052 crore vs Rs 11,612 crore in Q1 FY24; mainly due to higher sales volumes. The company’s consolidated continuing EBITDA for Q1 FY25 grows by 53 per cent to Rs 6,290 crore vs Rs 4,121 crore for Q1 FY24; due to higher revenues and lower import fuel prices.
The consolidated power sale volume at 24.1 Billion Units (BU) in Q1 FY25, up by 38 per cent from 17.5 BU in Q1 FY24 due to improved power demand and larger effective operating capacity.
The company reported a Net Profit of Rs 3,913 crore in Q1 FY25 , which dropped by 55 per cent as compared to Rs 8,759 crore in Q1 FY24
S B Khyalia, CEO, Adani Power Limited, said, “As Adani Power grows from strength to strength, we have undertaken advance development activities to secure execution pipelines for three Ultra-supercritical projects of 1,600 MW each to prepare ourselves for the anticipated resurgence in the thermal power sector. Our strategic focus is to derisk our growth plans by utilizing high efficiency, low emission technologies, pooling our deep experience and multi-domain expertise for project development, securing access to fuel resources, and revitalizing the organization to become more agile and competitive in the digitalized world. Adani Power is dedicated to enhancing lives and ensuring India’s energy security by proactively addressing the need for sustainable, affordable, and reliable power, while also being a responsible steward of the environment and surrounding communities.”
Power demand is continuing to exhibit strong growth across India, with aggregate power demand in the first quarter growing at 10.6% year-on-year and peak demand growing at 12% to reaching a record level of 250 GW. This positive environment for the power sector has resulted in higher offtake from APL’s power plants from both contracted capacities and open capacities.
During Q1 FY 2024-25, higher volumes were contributed by almost all plants led by Mundra and Mahan in addition to Godda, the second 800 MW unit of which was commissioned on 26th June 2023. Domestic power sales volumes continued to be driven by growing power demand , and offtake under Power Purchase Agreements was further supported by falling prices of imported coal.
Adani Power has an installed thermal power capacity of 15,210 MW spread across eight power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand, apart from a 40 MW solar power plant in Gujarat.
Financial performance
| Particulars
(Rs. in Crore) |
Q1 FY25 | Q1 FY24 | Change +/- |
| Continuing Revenue from Operations(1) | 14,717 | 11,370 | 29% |
| Continuing Other Income(2) | 335 | 242 | 38% |
| Total Continuing Income | 15,052 | 11,612 | 30% |
| Total Reported Income | 15,474 | 18,109 | (15%) |
| Continuing EBITDA | 6,290 | 4,121 | 53% |
| Continuing Profit Before Tax | 4,483 | 2,303 | 95% |
| Reported EBITDA | 6,713 | 10,618 | (37%) |
| Reported Profit Before Tax | 4,906 | 8,800 | (44%) |
| Tax expenses / (Credit) | 993 | 40 | 2383% |
| Profit After Tax | 3,913 | 8,759 | (55%) |
(1), (2): Continuing Operating Revenues and Continuing Other Income exclude prior period income recognition on account of coal shortfall claims and late payment surcharge.
