Adani Power bounces back after nine consecutive quarters

Posts net profit of Rs 2,850 crore for Q4 of 2013-14

Gujarat-based Adani Power that recently became the largest private power producer in India with an overall installed capacity of 8,620 MW, posted a net profit of Rs 2,850 crore for the quarter ended March 31, 2014 after posting losses for nine consecutive quarters. The company had registered a net loss of Rs 426.5 crore in the corresponding period last year.

Total Income has increased from Rs 1,892.26 crore for the quarter to Rs 4,538 crore on for the quarter, up 139%.

For the year ended March 31, 2014, the company posted a net profit of Rs 595.2 crore as compared to a net loss of Rs 1,952 crore in FY13. Total income too increased from Rs 6,868 crore for the year ended March 31, 2013 to Rs 11,600.1 crore for the year ended March 31, 2014.

On a consolidated basis, Adani Power posted a net profit of Rs 2,528.5 crore for the quarter ended March 31, 2014 as compared to net loss of Rs 5,85.5 crore in the same period last fiscal.

Total income increased from Rs 1,935 crore for the quarter ended March 31, 2013 to Rs 6,034.7 crore for the quarter ended March 31, 2014. For the full year 2013-14, the company posted a net loss of Rs 290.5 crore as against a net loss of Rs 2,295 crore for FY13. Total income increased from Rs 6,970 crore for the year ended March 31, 2013 to Rs 15,954.4 crore for the year ended March 31, 2014.