Adani Power reported its Q4 and FY24 numbers. Its Q4FY24 PAT (Profit After Tax) fell nearly 48% YoY to Rs 2,737 crore from Rs 5,242 crore in Q4FY23. On a sequential basis the net profit came in flat compared to the December quarter. The fall in Q4 profit as been on account of the increase in depreciation charge to Rs 990 crore and as the finance cost shot up to Rs 820 crore due to the commissioning of the Godda project. Its Q4FY24 total continuing income came in at Rs 13,787 crore, up 29.3% YoY from Rs 10,664 crore in Q4FY23.
The operating performance for Q4FY24 includes output from 600 MW Godda Ultra-supercritical Thermal Power Plant of APL’s subsidiary Adani Power (Jharkhand) (APJL), which was commissioned in Q1FY24. Higher volumes were contributed by almost all plants in Q4 led by Mundra, the newly commissioned Godda plant, Udupi, and Mahan. Domestic power sales volumes continued to be driven by growing power demand across India, and offtake under Power Purchase Agreements (“PPAs”).
Speaking about the company’s quarterly dynamics, Gautam Adani, Chairman, Adani Group said, “Adani Power is a key component of our long-term strategy, supplying reliable base load power across a vast part of the country, executing benchmark-setting projects, creating assets of national importance, and acting as the balancing supply to enable greater integration of renewables in the grid. We are committed to continuous innovation across businesses and creating sustainable value for all stakeholders.”
SB Khyalia, CEO, Adani Power added “We are focusing on tech-enabled reliability enhancement, reduction in cost of generation, and improvement in plant efficiency.”
For the full year, FY24, APL reported Consolidated Profit After Tax of Rs 20,829 crore, which is nearly double the PAT of Rs 10,727 crore for FY23 on account of improved recurring profitability and higher one-time income.