Adani Power Q1 Results: Profit Jumps 83% On Higher Operational Income
Adani Power Ltd.'s net profit for the first quarter surged 83% on higher operational income.
The consolidated profit rose to Rs 8,759 crore, according to an exchange filing on Thursday.
Adani Power Q1 FY24 Highlights (Consolidated, YoY)
Revenue rose 17% to Rs 18,109 crore on higher power sales, improved volume, and higher one-time revenue recognition on account of regulatory claims and the late-payment surcharge.
Ebitda increased 42% to Rs 10,618 crore on account of higher one-time revenue recognition and the incremental contribution of the Godda power plant.
During the quarter, Adani Power achieved an average consolidated plant load factor of 60.1% and sales of 17.5 billion units on an installed capacity of 15,250 megawatts. That compares with a consolidated PLF of 58.6% and sales volume of 16.3 billion units on an installed capacity of 13,650 MW a year ago, the company said in a statement.
The power plants in Udupi, Raipur, Raigarh, and Mahan achieved an increase in PLF, while the power plants at Mundra, Tiroda, and Kawai achieved lower PLF due to erratic weather conditions leading to a backdown from the distribution companies, it said.
The incremental generation capacity of the 1,600 MW Godda ultra-supercritical thermal power plant contributed to the increase in sales volume.
Shares of Adani Power closed 2.69% higher at Rs 274.90 as compared with a 0.82% drop in the benchmark Sensex.
Disclaimer: AMG Media Networks Ltd., a subsidiary of Adani Enterprises Ltd., holds a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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