Q4 Results: Adani Power Net Profit Up By 12.9% Consolidated total revenue higher by 35.8 per cent at INR 43,041 crore in FY23 against INR 31,686 crore in FY22
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Adani Power reported a consolidated net profit of INR 5,242 crore for the March quarter. This is a 12.9 per cent increase from INR 4,645 crore a year ago for the same period.
Total revenue was higher by 35.8 per cent at INR 43,041 crore in FY23 against INR 31,686 crore in FY22 due to improved tariff realization, high import coal price and higher one-time revenue recognition on account of regulatory claims. Consolidated EBITDA for FY23 was higher at INR 14,312 crore compared with INR 13,789 crore in FY22 and consolidated PAT for FY23 was higher by 118.4 per cent at INR 10,727 crore against INR 4,912 crore for FY22.
"India's growing demand for world-class infrastructure facilities is acting as the springboard for the next phase of its economic growth. As the nation's foremost infrastructure conglomerate, Adani Group is fully committed to meet it in a sustainable and dependable manner. Reliable and scalable base load power is fundamental to its economic sustenance, which Adani Power is best placed to supplement along with the Group's diversified presence across the energy value chain of renewable and conventional generation, transmission, and distribution," said Gautam Adani, Chairman, Adani Group.
"The indefatigable spirit that drives the Adani Group has been aptly demonstrated by Adani Power Limited by surmounting challenges through perseverance, dedication, and strong belief in fundamental values. The culmination of long-deliberated regulatory matters has helped evolve and refine the principles that will enable the power sector to grow profitably and equitably. We have also started a new chapter in cross-border co-operation with the commissioning of the first 800 MW unit of the Godda Ultra-supercritical thermal power project, which will provide Bangladesh with a reliable source of electricity, and help it achieve its long-term economic goals,"said S B Khyalia, CEO, Adani Power Limited.
Adani Power (APL), a part of the diversified Adani Group, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 14,410 MW spread across eight power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand, apart from a 40 MW solar power plant in Gujarat.
