 "Adani Power Q3FY25 results: Net profit rises 12% to Rs 3,057 crore")
Thermal power producer Adani Power reported a 12 per cent rise in its net profit attributable to the owners of the company, for the October-December quarter, on the back of improved performance and higher other income.
The company’s board on Wednesday also approved enhancement of NCD fund to Rs 11,000 crore from the earlier Rs 5,000.
It also approved, raising funds through sale of equity up to Rs 5,000 crore, including but not limited to a private placement, a qualified institutions placement, preferential issue, or any other method as may be required.
For the quarter under review, the company’s consolidated net profit stood at Rs 3,057.21 crore, up from Rs 2,737.96 crore a year ago.
Revenue from operations in the same period rose five per cent year-on-year to Rs 13,671.18 crore.
Other income for the quarter was at Rs 1,162.26 crore, a multi-fold rise from Rs 363 crore in the corresponding quarter a year back.
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The company said, consolidated power sale volume in the quarter was up 8 percent YoY due to improved power demand and higher operating capacity.
Consolidated EBITDA, Adani Power said, is up 23 percent YoY to Rs. 6,185 crore.
The company said, higher one-time prior period income recognition at Rs. 1,400 crore in Q3 FY25 due to closure of contractual matters, and recognition of carrying cost income as well as late payment surcharges, leading to a 26.4 per cent growth in Profit Before Tax over Q3 FY24.”