Adani Power logs 16x rise in Q1 net, revenue rises 109% to Rs 13,723 crore

Adani Power on Wednesday reported a consolidated net profit at Rs 4,780 crore for the June quarter (Q1). It reported a consolidated net profit of Rs 278 crore in the corresponding period last financial  year. 

The company's consolidated revenue from operations rose 109 per cent to Rs 13,723 crore compared to Rs 6,569 crore last year. 

On Wednesday, the company's scrip on BSE closed 3.5 per cent higher to Rs 340 a share. 

Expenses stood at Rs 9,642.80 crore during the quarter compared to Rs 6,763.50 crore in the preceding fiscal.

"We have been able to utilise the opportunities presented by the market, to meet rising power demand. Regulatory issues that were outstanding since long are nearing full resolution," Anil Sardana, managing director, Adani Power, said. 

In Q1, Adani Power and its subsidiaries achieved an average plant load factor of 58.6 per cent and aggregate sales volumes of 16.3 billion units (BU) on an installed base of 13,650 mega watts, it said.

Total income rose to ₹15,509 crore in the quarter under review from ₹7,213.21 crore in the same period a year ago.

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.