Adani Power's Q4 net profit down 71% at at Rs 715 cr

Company's consolidated total income stands at Rs 4,830 cr

Adani Power reported 71 per cent reduction in consolidated net profit at Rs 715 crore, for the fourth quarter (Q4) of 2014-15, compared to the corresponding period the previous year. The Ahmedabad-headquartered company had net profit of Rs 2,528 crore in the final quarter of 2013-14.

Consolidated total income for Q4 stood at Rs 4,829 crore. For the final quarter, it was  Rs 6,060 crore.

Consolidated net loss for 2014-15 widened to Rs 816 crore from the net loss of Rs 290 crore reported in 2013-14. The consolidated total income for 2014-15 increased to Rs 19,791 crore from Rs 16,005 crore reported in 2013-14. With completion of the acquisition of Udupi Power Corporation, the company said, its total commissioned capacity was 10,440 Mw.  

On a standalone basis, the company's net profit stood at Rs 418.21 crore, a 85 per cent reduction from Rs 2,850 crore it reported for the corresponding period in 2013-14.

The standalone total income for Q4 of 2014-15 was Rs 2,592.28 crore while the same for the corresponding period in 2013-14 was Rs 4,595.83 crore.

The company reported a standalone net loss of Rs 68.63 crore for 2014-15 while it had reported net profit of Rs. 595.26 crore for 2013-14. Standalone total income for 2014-15 was Rs 11,037.01 crore while the same was Rs 11,769.44 crore for 2013-14.

The company's sales of energy units for the final quarter of 2014-15 also rose to 12 billion units from the 11.8 billion units it sold in the final quarter of 2013-14, the statement said. On a yearly basis, the company sold 50.7 billion energy units in 2015, a marginal rise from the 40.1 billion units it sold in 2013-14.

Commenting on the company's financial performance, Gautam Adani, chairman, Adani Power said, \"The past year has been a momentous one for everyone at Adani Power as we became India's largest private power producer and now with the completion of acquisition of Udupi Power Plant, our installed capacity has increased to 10,440 MW. We remain committed to continue expanding towards the goal of achieving a generation capacity of 20,000 MW by 2020 to bridge the power deficit in the country.\"

Vneet Jaain, chief executive officer, Adani Power, said, "We had a robust year of overall performance with the completion of all announced projects and stabilisation of operations at all plants. We continue on our path of growth focusing on generation and operational excellence. With implementation of policy measures, execution of tariff orders and likelihood of improved domestic coal availability, we are confident of better performance in ensuing year."