The largest private sector power developer Adani Power posted a consolidated quarterly profit of Rs 1,173 crore, an increase of 64% compared to the corresponding period last year, on account of higher sale of electricity. The company sold 41% more power at 17.1 billion units in the January-March period.
Meanwhile, Adani Power informed BSE that the company will seek shareholders’ approval to raise funds by issue of equity shares or convertible bonds for up to R10,000 Crores. The company will issue secured and unsecured redeemable non-convertible debentures on private placement basis within the overall borrowing limits of the company. The exercise will be concluded in twelve months through private placement mode, the company said in a filing to BSE.
For the quarter ended March 31, the firm’s consolidated quarterly revenue came in at R7,456 crore, up 57% compared to the corresponding period a year ago.
For the fiscal year 2016, the company declared profit of R488 crore compared to a loss of R816 crore in the previous fiscal. The consolidated total income for the last fiscal year stood at R25,433 crore, up 29% compared to FY 15. For the full year, the consolidated EBITDA for the utility increased by 44% to R8,755 crore.
Adani Ports Q4 net jumps 38%: Adani Ports and Special Economic Zone (APSEZ) on Tuesday reported a 38% jump in its consolidated net profit to R914.06 core for the March quarter.
The total income increased by 18% y-o-y to R2162 crore during the quarter. For the full year ended March 31, 2016, the group posted an increase of 24% y-o-y in the consolidated net profit at R2867 crore, while the total income was up by 16% y-o-y at R7940.5 crore.