Gautam Adani-led Adani Power Ltd Monday reported a lower consolidated net loss of Rs.799 crore for the second quarter ended September as compared to a net loss of Rs.1,072 crore in the same period of the last fiscal.
The company said the reduced net loss was owing to increased earnings before interest, taxes, depreciation, and amortization (EBITDA), which increased 64 percent to Rs.1,246 crore in the quarter under review, as against Rs.759 crore in the same period last year.
"EBITDA for the quarter improved due to higher volume of power sold and improved operational efficiencies. Increased EBITDA resulted in lower consolidated net loss of Rs.799 crore in Q2 FY15 as compared to net loss of Rs.1,072 crore in Q2 FY14," the company said in a statement here.
Adani Power sold 10.49 billion units of power during the second quarter of the current fiscal, as against 9.07 billion units in the same period a year ago, it added.
The company's stock closed Monday at Rs.46.50 a share, down 1.15 points, or 2.41 percent, over its previous close on the Bombay Stock Exchange (BSE).
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