Adani Power Q2 net profit rises by 22%

Adani Power Ltd (APL) on Wednesday reported a 22.09 per cent increase in its consolidated net profit at Rs 386.89 crore in the second quarter ended September from Rs 438.26 crore in the corresponding quarter last year.

The Gautam Adani-led Adani Power in a BSE filing said the consolidated total income for the quarter increased to Rs 7,657.23 crore, from Rs 6,414.65 crore.

Average Plant Load Factor (PLF) achieved during the second quarter of FY 2018-19 was at 65 per cent, as compared to 63 per cent achieved in Q2 FY 2017-18.

"This growth was on account of better coal availability and strong demand from DISCOMs," the statement said.

Earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter grew by 18 per cent to Rs 2,806 crore from Rs 2,380 crore in Q2 FY18, mainly on account of growth in Revenues.

Consolidated EBITDA for H1 FY19 was higher by 2 per cent at Rs 4,095 crore as compared to Rs 4,000 crore in H1 FY18, the company said.

"Finance cost for Q2 FY19 was Rs 1,407 crore as compared to Rs 1,389 crore in Q2 FY18. The increase in finance cost was primarily due to higher borrowing during the quarter, which was partially offset by gains on forex hedges," it added.

The Adani Power stock on BSE closed on Wednesday at Rs 46.05 a share, up Rs 1.35, or 3.02 per cent.

--IANS

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