Adani Power Q4 net falls 72 percent to Rs.715.05 crore

Gautam Adani-led Adani Power Ltd. (APL) on Monday reported a 71.72 percent fall in consolidated net profit for the fourth quarter ended March at Rs.715.05 crore caused by a decline in sales.

The company had reported a net profit of Rs.2,528.55 crore in the corresponding quarter of the 2014.

Total revenues for the January-March quarter stood at Rs.4,667.56 crore compared to Rs.5,996.49 crore in the year-ago period, the company said in a statement here.

During the quarter in question, the company reported an exceptional income of Rs.657.56 crore mainly due to gain arising out of the demerger of the transmission business and its subsequent sale to Adani Transmission.

The company said its consolidated net loss during 2014-15 was Rs.816 crore.

Its consolidated income during the year increased by 24 percent, from Rs.15,768 crore to Rs.19,545 crore.

"Revenue during the year increased because of higher effective operational capacity of 8,891 MW as compared to 7,182 MW in the corresponding previous year," said company chairman Gautam Adani.

He said APL has become India's largest private power producer with the acquisition of the Udupi power plant, and its 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," he said.

In the fourth quarter, APL sold 12 billion units of electricity as compared to 11.8 billion units in the same quarter of the previous fiscal. It sold a total of 50.7 billion units in 2014-15, compared to 40.1 billion units in 2013-14.