Adani Power Q2 Results: Net Profit Rises Over Ninefold On One-Time Gain, Higher Sales

The company and its subsidiaries achieved an average plant load factor of 58.3% and power sales volume of 18.1 billion units, as compared to PLF of 39.2% and power sales volume of 11 BU a year ago.

The operating performance included operations from 1,600 MW Godda ultra-supercritical power plant, which was commissioned in the first quarter.

The performance in the second quarter was led by higher power offtake from Mundra, Udupi, Raipur, and Mahan plants apart from the incremental contribution of Godda power plant, and higher merchant sales, the company said. "Lower imported coal prices helped in higher offtake of power under import coal-based power purchase agreements of Mundra and Udupi plants."

The operating revenue in second quarter included one-time prior period gain of Rs 1,125 crore on account of domestic coal shortfall. The other income of Rs 1,945 crore for the quarter included one-time prior period gain of Rs 1,656 crore in the form of carrying cost and late payment surcharge. In comparison last year's revenue included a one-time prior period gain of Rs 912 crore.

Shares of Adani Power were up 3.27% at Rs 376.95 apiece on the BSE compared to a 0.64% advance in the benchmark Sensex at 2.46 p.m.