Adani Power grows 29 pc YoY in Q4 FY24 to Rs 13,787 cr, revenue grows 37 pc to Rs 50,960 cr

Ahmedabad (Gujarat) [India], May 1 : Adani Power Ltd has reported its financial results for the fourth quarter ended on March 31, showcasing growth in revenue and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA).
In Q4 FY24, Adani Power's consolidated power sale volume reached 22.1 Billion Units (BU), marking a substantial 55 per cent increase from 14.3 BU in Q4 FY23. This surge was attributed to improved power demand, lower import coal prices, and a larger installed capacity.
Continuing total revenues for FY24 were higher by 37 per cent at Rs 50,960 Crore compared to Rs 37,268 Crore in FY23. The continuing EBITDA for FY24 more than doubled to Rs 18,789 Crore compared to Rs 8,540 Crore in FY23, driven by higher revenues and lower import fuel prices.
The company's continuing total revenue for Q4 FY24 grew by 29 per cent to Rs 13,787 Crore compared to Rs 10,664 Crore in Q4 FY23. This growth was primarily driven by higher sales volumes.
Furthermore, Adani Power's continuing EBITDA for Q4 FY24 more than doubled to Rs 5,273 Crore, compared to Rs 2,329 Crore for Q4 FY23. This substantial increase was due to greater revenues and lower import fuel prices.
For the entire FY24, Adani Power continued its impressive growth trajectory. The consolidated power sale volume for FY24 stood at 79.3 BU, up by 48 per cent from 53.4 BU in FY23. This growth was again attributed to improved power demand, lower import coal prices, and increased installed capacity.
Additionally, there was a higher one-time income recognition of Rs 9,322 Crore for FY24 compared to Rs 5,772 Crore for FY23, driven by increased collection of late payment surcharges. The consolidated Profit Before Tax for FY24 more than doubled to Rs 20,792 Crore compared to Rs 7,675 Crore in FY23, owing to higher reported EBITDA and lower leverage.
Commenting on the results, Gautam Adani, Chairman of Adani Group, emphasized the company's role in providing sustainable energy solutions to support India's economic growth.
Adani said, "As India transitions to a more sustainable energy future, the Adani Portfolio of companies will continue to provide innovative, reliable, and scalable solutions to support the nation's economic growth and help realize the aspirations of its billion-plus citizens."
He added, "Adani Power is a key component of our long-term strategy, supplying reliable baseload power across a vast part of the country, executing benchmark-setting projects, creating assets of national importance, and acting as the balancing supply to enable greater integration of renewables in the grid. We are committed to continuous innovation across businesses and creating sustainable value for all stakeholders."
SB Khyalia, CEO of Adani Power Limited, expressed satisfaction with the company's performance, highlighting its sound strategy and operational excellence. He reiterated Adani Power's commitment to empowering lives and contributing to India's energy security.
Khyalia, said, "Adani Power has posted yet another outstanding quarter demonstrating its core strengths, capping a year of exceptional operational and financial performance in a fitting testimony to its sound strategy and operational excellence. On our journey to achieve the Company's vision, we are focusing on tech-enabled reliability enhancement, reduction in cost of generation, and improvement in plant efficiency."
He added, "Adani Power is committed to empowering lives and contributing to India's energy security by anticipating the need for sustainable, affordable, and reliable power supply and serving it by building capacities in a timely and cost-effective manner."
In Q4 FY24, Adani Power's installed capacity stood at 15,250 MW compared to 13,650 MW in Q4 FY23. The plant load factor increased to 71.5 per cent in Q4 FY24 from 52.0 per cent in Q4 FY23.
The company's units sold in Q4 FY24 reached 22.1 BU, up from 14.3 BU in Q4 FY23. The operating performance also included the 1600 MW Godda Ultra-supercritical Thermal Power Plant (USCTPP), which was commissioned in Q1 FY 2023-24.
Adani Power maintained its commitment to environmental, social, and governance (ESG) factors, scoring well in assessments by various organizations. The company is also exploring further organic expansion and inorganic acquisition opportunities to augment its generation capacity.