Adani Power Dec qtr net up 51% at Rs 109 cr

Adani Power today reported a whopping 51% jump in its net profit at Rs 109.1 crore for the quarter ended December 31, 2010, over the same period a year ago.

The company reported a net profit of Rs 72.4 crore in the corresponding quarter of the previous financial year, Adani Power said in a filing to the Bombay Stock Exchange.

Net sales of the company rose 115% at Rs 502.6 crore from Rs 233.5 crore during the same period last fiscal.

Adani Power also informed BSE about the appointment of Ravi Sharma as the whole-time director of the company for a period of five years.

Adani Power has commissioned a 2,000 MW power project at Mundra in Gujarat and an additional 2,600 MW plant will be commissioned by March 2012.

It is also building 3,300 MW project at Bhadreshwar in Kutch, and 600 MW at Dahej and 4,000 MW at Dholera and all these power plants shall be completed to create a capacity of 15,000 MW by 2015.