Adani Power posts Rs 278 cr consolidated net profit in June quarter

By: |
August 05, 2021 10:11 PM

Total income rose to Rs 7,213.21 crore in the quarter from Rs 5,356.19 crore in the same period a year ago.

The draft rules, for the first time, also state that renewable purchase obligations (RPO) of an industrial user can be met through green hydrogen as well.The draft rules, for the first time, also state that renewable purchase obligations (RPO) of an industrial user can be met through green hydrogen as well.

Adani Power Ltd posted a consolidated net profit of Rs 278.22 crore in the June 2021 quarter, mainly on the back of higher revenues. The company had reported a consolidated net loss of Rs 682.46 crore in the quarter ended on June 30, 2020, a BSE filing stated. Total income rose to Rs 7,213.21 crore in the quarter from Rs 5,356.19 crore in the same period a year ago. Consolidated units (power) sold for Q1 FY’22 were 16.2 billion units (BU), as compared to the Q1 FY’21 sales volume of 12.7 BU.

Average Plant Load Factor (PLF) or capacity utilisation, achieved by Adani Power and its subsidiaries during the first quarter of FY’22, was 65 per cent, as compared to 51 per cent achieved in Q1 FY’21. Finance costs for Q1 FY’22 declined to Rs 1,068 crore as compared to Rs 1,392 crore in Q1 FY’21 on account of conversion of unsecured loans into unsecured perpetual securities during FY’21, term loan repayment, interest rate reduction, and favourable currency movement.

Adani Power MD Anil Sardana said, “Our experience and excellence in various arenas, from plant operations and maintenance to fuel management, coupled with our locational advantage have helped us outperform the sector consistently. As we move closer to acquiring and turning around the fourth power asset, we are focusing on various excellence initiatives to enhance safety, reliability, predictability, and profitability of our entire portfolio.”

“Various regulatory petitions, which are at concluding stages, will help release long-awaited cash flows and improve our liquidity position and competitive edge. We remain committed to fulfilling our promise to all stakeholders and creating lasting value for the nation and society,” he added.

Adani Power, part of the diversified Adani Group, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 12,410 MW spread across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh, apart from a 40 MW solar power plant in Gujarat.

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