29 Jan 2024 , 12:36 PM
Adani Power announced a multifold increase in consolidated net profit for the December quarter on Thursday, totaling Rs 2,738 crore. The same figure was Rs 9 crore for the same time previous year.
Revenue from operations increased 67% year on year (YoY) to Rs 12,991 crore in October-December, compared to Rs 7,764 crore in the same period previous year.
EBITDA for the reporting period more than quadrupled to Rs 5,059 crore, compared to Rs 1,996 crore in the same quarter previous year. Continuing EBITDA rose 242% to Rs 5,059 crore.
Growth in ongoing EBITDA was principally driven by a reduced rise in fuel expenses relative to revenue growth, owing to lower import fuel prices and substitute fuel costs.
Finance expenses fell to Rs 797 crore in the reported third quarter from Rs 946 crore in Q3FY23, owing to a decrease in secured and unsecured debt over the previous year, which was partially offset by increased borrowing costs for the Godda power plant.
Depreciation expenses for the third quarter climbed to Rs 1,002 crore from Rs 838 crore in Q3FY23, owing to the installation of the Godda power plant.
During the quarter, the operational results encompass the 1,600 MW Godda ultra-supercritical thermal power plant belonging to Adani Power’s subsidiary, Adani Power (Jharkhand) (APJL). This facility became operational in the initial quarter of the current fiscal year.
At around 12.35 PM, Adani Power was trading 3.63% higher at Rs 563, against the previous close of Rs 543.30 on NSE.
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