Adani Power declined 1.89% to Rs 46.75 at 15:05 IST on BSE after the company reported consolidated net loss of Rs 799 crore in Q2 September 2014 as compared to consolidated net loss of Rs 1072 crore in Q2 September 2013
The Q2 result was announced during market hours today, 10 November 2014.
Meanwhile, the S&P BSE Sensex was up 4.42 points or 0.02% at 27,873.06.
On BSE, so far 12.52 lakh shares were traded in the counter as against average daily volume of 9.26 lakh shares in the past one quarter.
The stock hit a high of Rs 48.70 and a low of Rs 46.50 so far during the day. The stock had hit a 52-week high of Rs 68.50 on 26 May 201. The stock had hit a 52-week low of Rs 31.90 on 30 January 2014.
The stock had outperformed the market over the past one month till 7 November 2014, advancing 13.59% compared with the Sensex's 6.08% rise. The scrip had, however, underperformed the market in past one quarter, falling 14.3% as against Sensex's 8.91% rise.
The large-cap firm has an equity capital of Rs 2871.92 crore. Face value per share is Rs 10.
Adani Power's consolidated total income rose 36% to Rs 4148 crore in Q2 September 2014 over Q2 September 2013.
The company sold 10.49 billion units during Q2 September 2014 compared with 9.07 billion units in Q2 September 2013.
The consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 64% to Rs 1246 crore in Q2 September 2014 over Q2 September 2013. EBIDTA for the quarter improved due to higher volume of power sold and improved operational efficiencies. Increased EBIDTA resulted in lower consolidated net loss.
Commenting on the Second Quarter results of the company Mr. Gautam Adani, Chairman, Adani Power said, Power sector revival is the top priority of the new Government and this has been demonstrated through the various announcements made to implement radical measures which are heartening for the power sector at large. The ordinance for the coal block auction, measures for easing financing to the power and infrastructure project and other policy initiatives which are planned, will revive the power sector.
Mr. Vneet Jaain, Chief Executive Officer of Adani Power, said, Our result reflects higher volume of power generation and improved operational efficiencies which were off-set by the challenges in business that have led to PPAs becoming non-remunerative coupled with limited availability of domestic coal. However, with implementation of policy measures, implementation of tariff orders and improving operational efficiencies, we are confident of revival in our power business performance. The company has achieved thermal power generation capacity of 9,240 MW.
Adani Power is a subsidiary of Adani Enterprises and a part of Adani Group, and is into business of power generation.
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