Adani Power slips as net loss widens

Adani Power fell 2.84% to Rs 41.05 at 15:22 IST on BSE after the company announced weak Q3 results during trading hours today, 17 January 2018.

Meanwhile, the S&P BSE Sensex was up 332.05 points, or 0.95% to 35,103.10.

On the BSE, 42.21 lakh shares were traded in the counter so far, compared with average daily volumes of 27.58 shares in the past two weeks. The stock had hit a high of Rs 42.15 and a low of Rs 39.75 so far during the day. The stock hit a 52-week high of Rs 47.75 on 8 January 2018. The stock hit a 52-week low of Rs 25.90 on 30 May 2017.

On a consolidated basis, Adani Power reported net loss of Rs 1290.74 crore in Q3 December 2017 compared with net loss of Rs 667.89 crore in Q3 December 2016. Total income fell 10.46% to Rs 4916.34 crore in Q3 December 2017 over Q3 December 2016.

Units sold during Q3 December 2017 were 12633 million units (MUs) as compared to 14897 MUs during Q3 December 2016. Average Plant Load Factor (PLF) achieved during Q3 December 2017 was 58%, lower as compared to 69% achieved in Q3 December 2016. Lower PLF during Q3 December 2017 was as a result of lower domestic coal availability at Tiroda and Kawai and forced outage at Udupi, as well as scheduled maintenance.

Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 41.35% to Rs 800 crore Q3 December 2017 compared with Rs 1364 crore in Q3 December 2016. EBITDA during the quarter was lower due to arrears of transmission charges of Rs 287 crore not pertaining to the quarter, and lower fixed capacity charge revenue due to lower billed availability.

Adani Power is the largest private thermal power producer in India with an installed capacity of 10.440 megawatts.

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