Adani Power’s June quarter net profit surges ~83% y-o-y to Rs 8,759 crore

4 Aug 2023 , 11:36 AM

Adani Power announced consolidated net profit for the quarter ended June 2023 of Rs 8,759.42 crore, up 83.25% from Rs 4,779.86 crore in the same quarter last year, owing mostly to significant other income.

According to an exchange filing, revenue from operations was Rs 11,005.54 crore, a 19.80% decrease from the previous fiscal’s equivalent quarter revenue of Rs 13,723.06 crore.

The company reported other income of Rs 7,103.47 crore, which was much higher sequentially and year-on-year basis. It includes a one-time recognition of prior period regulatory revenue of Rs 6,497 crore, mostly due to late payment surcharge.

Its consolidated EBITDA for Q1FY24 increased by 41.5% to Rs 10,618 crore from Rs 7,506 crore in Q1 FY23, owing to higher one-time revenue recognition and the incremental contribution of the Godda power plant.

Adani Power stated its installed capacity increased to 15,250 MW in June 2023 quarter from 13,650 MW in June 30, 2022, following the commissioning of the 1,600 MW Godda Ultra-supercritical Power Plant, which distributes cross-border power to Bangladesh.

At around 11.27 AM, Adani Power was trading 1.46% higher at Rs 278.85, against the previous close of Rs 274.85 on NSE. The counter touched an intraday high and low of Rs 284.50 and Rs 275.20, respectively.

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