The Economic Times daily newspaper is available online now.

    Adani Power Q1 Results: Firm logs 16-fold jump in profit; revenue zooms 115%

    Synopsis

    ​​Consolidated total revenue for the quarter jumped 115 per cent YoY to Rs 15,509 crore compared with Rs 7,213 crore in the corresponding quarter last year.

    Adani Power
    This increase in revenue was aided by increase in PPA tariff.
    NEW DELHI: Adani Power on Wednesday reported a 16-fold surge in consolidated profit after tax at Rs 4,780 crore compared with Rs 278 crore in the same quarter last year.

    Consolidated total revenue for the quarter jumped 115 per cent YoY to Rs 15,509 crore compared with Rs 7,213 crore in the corresponding quarter last year.

    This increase in revenue was aided by increase in PPA tariffs due to higher import coal prices and greater alternate coal usage, improved merchant and short-term tariffs, revival of 1,234 MW Bid-2 PPA with Gujarat DISCOMs, and higher prior period revenue recognition.

    Revenue for the quarter included the recognition of prior period revenue from operations of Rs 2,561 crore, and prior period other income of Rs 1,651 crore primarily on account of various regulatory orders. The corresponding amounts of prior period revenue recognition in the year ago quarter were Rs 125 crore and Rs 532 crore, respectively.

    Ebitda for the quarter came in at Rs 7,506 crore, up 227 per cent YoY over year-ago quarter's Rs 2,292 crore.

    Ebitda growth was aided by prior period income recognition, improved tariff realisation, and change in sales mix, partially offset by impact of higher fuel cost, increased operating expenses owing to acquisition of Mahan Energen, unfavourable foreign exchange movement.

    Managing Director Anil Sardana said, "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.

    "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.”

    For the quarter, Adani Power, along with the power plants of its subsidiaries achieved an average plant load factor (PLF) of 58.6 per cent and aggregate sales volumes of 16.3 billion units on an installed base of 13,650 mw.

    This is against the year-ago's average PLF of 64.8 per cent and sales volume of 16.2 BU on an installed base of 12,450 mw. The company said its operating performance during the quarter was affected due to high import coal prices which impacted the performance of Mundra and Udupi, while volumes at Raipur and Raigarh were lower due to domestic coal shortage.

    "This was partially offset by improved volumes due to high demand for power at Tiroda and Kawai, and inclusion of operating performance of the newly acquired Mahan plant," it said.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in