- Revenue grows to Rs 15,509 crore, up by 115% y-o-y
- EBITDA grows to Rs 7,506 crore, up by 227% y-o-y
NE BUSINESS BUREAU
AHMEDABAD, AUG 4
Adani Power Ltd. [APL], a part of the Adani Group, on Wednesday reported a whopping 16-fold jump in consolidated net profit at Rs 4,780 crore for the quarter ending June 30, 2022. It reported consolidated net profit of Rs 278 crore in the year-ago period.
The company’s consolidated revenue from operations rose 109% to Rs 13,723 crore as compared to Rs 6,569 crore in Q1FY22.
Expenses stood at Rs 9,642.80 crore during the quarter under review compared to Rs 6,763.50 crore in the preceding fiscal.
” As the world goes through a period of increased uncertainty and hyperinflation in commodity prices caused by geopolitical conflict, India’s energy sector has also faced price-adversity. However, pragmatic policy decisions and abundant natural resources have shielded the economy from its worst impact. Adani Power Ltd. has been able to utilise the opportunities presented by the market situation effectively, leveraging its diversified fleet and operations-excellence to meet rising power demand. Regulatory issues that were outstanding since long are nearing full resolution, improving visibility and providing us liquidity to propel our drive to realise our long-term strategies and meet our stakeholder value aspirations duly keeping our utmost commitment to ESG aspects,” Anil Sardana, Managing Director of Adani Power Limited, said.
He further added “We have been able to utilise the opportunities presented by the market situation effectively, leveraging our diversified fleet and operations-excellence to meet rising power demand. Regulatory issues that were outstanding since long are nearing full resolution, improving visibility and providing us liquidity to propel our drive to realise our long-term strategies and meet our stakeholder value aspirations…”
Part of the diversified Adani Group, APL is the largest private thermal power producer in India. The company has an installed thermal power capacity of 13,610 MW spread across seven power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, and Madhya Pradesh, apart from a 40 MW solar power plant in Gujarat.
During the first quarter of FY23, APL and power plants of its subsidiaries achieved an average plant load factor of 58.6 percent and aggregate sales volumes of 16.3 billion units (BU) on an installed base of 13,650 MW.
The Company’s wholly-owned subsidiary, Adani Power Maharashtra Limited, has received part payment towards domestic coal shortfall claims pertaining to deallocation of the Lohara Coal Block and coal supplies under NCDP/SHAKTI policies, along with applicable carrying cost from the Maharashtra Electricity Distribution Company Ltd. pursuant to Hon’ble Supreme Court’s interim order.
