Adani Green Energy posts Rs 169.05-cr loss before tax in December quarter

Adani Green Energy (AGEL) has registered a consolidated loss before tax of Rs 169.05 crore for the quarter ended December 31, 2019, as against a loss before tax of Rs 142.30 crore from the corresponding period last year. The company’s consolidated total revenue stood at Rs 523.20 crore in Q3 of FY20, up by 11 per cent from Rs 470.94 in the corresponding quarter last year. In its filing with stock exchanges on Tuesday, AGEL said the group had refinanced its earlier borrowings through the issuance of secured senior notes and rupee term loans from a bank and financial institutions. This had led to AGEL, incurring a one-time cost of Rs 172 crore, of which Rs 74.15 crore were incurred in Q3 of FY20. AGEL earned revenue of Rs 452 crore from power generation, the company stated in an official communique. According to AGEL Chief Executive Officer Jayant Parimal, the company reached an operational capacity of 2.5 Gw and are on course to reach 4.29 Gw by FY21.