Adani Power declines amid volatility after Q2 results

Adani Power lost 1.74% to Rs 31.05 at 14:20 IST on BSE after the company reported consolidated net loss of Rs 369.08 crore in Q2 September 2015 compared with net loss of Rs 798.71 crore in Q2 September 2014.

The result was announced during market hours today, 3 November 2015.

Meanwhile, the S&P BSE Sensex was up 76.66 points or 0.29% at 26,635.81.

On BSE, so far 18.65 lakh shares were traded in the counter as against average daily volume of 13.03 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 3% at the day's low of Rs 30.65 so far during the day. The stock rose as much as 2.68% at the day's high of Rs 32.45 so far during the day. The stock had hit a 52-week high of Rs 60 on 5 March 2015. The stock had hit a 52-week low of Rs 19.65 on 25 August 2015.

The stock had outperformed the market over the past one month till 2 November 2015, surging 29.51% compared with Sensex's 1.29% rise. The scrip had also outperformed the market in past one quarter, jumping 15.33% as against Sensex's 5.53% fall.

The large-cap company has equity capital of Rs 2935.84 crore. Face value per share is Rs 10.

Adani Power's total income rose 38.52% to Rs 5783.90 crore in Q2 September 2015 over Q2 September 2014.

The company's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 47% to Rs 1824 crore in Q2 September 2015 over Q2 September 2014. EBITDA impact of demerger of transmission business was more than compensated by lower cost and improved operational efficiencies achieved at all plants, Adani Power said.

Pursuant to the stake sale in Adani Transmission (India) by Adani Power in the previous year, the merger of solar power undertaking of Adani Enterprises with the company with effect from 1 April 2015 and the acquisition of 100% stake of UPCL by company with effect from 20 April 2015, the figures for the current quarter and half year are not fully comparable with the figures of corresponding quarter and half year of the previous year.

Adani Power is a power business of Adani Group.

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