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Adani Power on Wednesday reported 16-fold jump in consolidated net profit at Rs 4,780 crore for the quarter ending June 30, 2022. It reported consolidated net profit of Rs 278 crore in the year-ago period.
The company's consolidated revenue from operations rose 109% to Rs 13,723 crore as compared to Rs 6,569 crore in Q1FY22.
On Wednesday, the company's scrip on BSE closed 3.5% higher at Rs 340.
Expenses stood at Rs 9,642.80 crore during the quarter under review compared to Rs 6,763.50 crore in the preceding fiscal.
"We have been able to utilise the opportunities presented by the market situation effectively, leveraging our diversified fleet and operations-excellence to meet rising power demand. Regulatory issues that were outstanding since long are nearing full resolution, improving visibility and providing us liquidity to propel our drive to realise our long-term strategies and meet our stakeholder value aspirations..," Anil Sardana, Managing Director of Adani Power Limited, said in a separate statement.
Part of the diversified Adani Group, APL is the largest private thermal power producer in India. The company has an installed thermal power capacity of 13,610 MW spread across seven power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, and Madhya Pradesh, apart from a 40 MW solar power plant in Gujarat.
During the first quarter of FY23, APL and power plants of its subsidiaries achieved an average plant load factor of 58.6 per cent and aggregate sales volumes of 16.3 billion units (BU) on an installed base of 13,650 MW.
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First Published: Wed, August 03 2022. 15:34 IST