Adani Green Energy Q4 loss widens to Rs 94 cr; plans to raise up to Rs 5K cr

Adani Green Energy Wednesday reported widening of its consolidated loss to Rs 94.08 crore for the March quarter, mainly due to higher depreciation and borrowing cost.

The company had posted a consolidated net loss of Rs 42.81 crore in the quarter ended March 31, 2018, it said in a statement.

Depreciation in the fourth quarter of 2018-19 was at Rs 293 crore, up by 77 per cent. Interest and bank charges rose to Rs 274 crore from Rs 142 crore a year ago
The company's Chairman Gautam Adani said, "To fully take advantage of India's Renewable Energy potential over the next few years will require new initiatives from central and state governments -- beyond policy and programs currently in place -- to support the engagement and participation of power sector stakeholders including Renewable Energy industry and developers, grid operators, public and private finance providers, consumers, and others."
Jayant Parimal, CEO, Adani Green Energy, said, "We have reached an operational capacity of 2.02GW, and are on course to reach 4.56GW by FY 2021."