Adani Power's revenue increased 44 pc in December quarter; profit declines
Feb 08, 2023
Ahmedabad (Gujarat) [India], February 8 : Adani Power's consolidated revenue from operations during the October-December quarter increased 44 per cent on a yearly basis to Rs 7,764 crore.
In the December quarter of the last financial year, the company's revenue was Rs 5,361 crore.
The Adani group company on Wednesday announced the financial results for the December-ended quarter and the first three quarters of the current financial year 2022-23.
Coming to the company's net profit for the period (December quarter), it was Rs 8.77 crore as against Rs 218.49 crore reported in the same quarter of 2021, earnings data filed by the company to stock exchanges showed.
"Adani Power Limited has consistently demonstrated its superior skills in project execution, excellence in power plant operations, and capabilities in fuel and logistics management, which has helped it turn around stressed power assets acquired under schemes of corporate debt resolution, apart from setting various benchmarks in its greenfield power plants," said Anil Sardana, Managing Director, Adani Power.
"With resolution of most of its regulatory issues now, the Company is well placed in terms of liquidity to meet its present commitments and growth requirements. Adani Power Limited, with its strategically located and efficient power plants, is poised to gain maximum advantage from India's growing power demand and provide stable, reliable and affordable power supply, while ensuring the betterment of communities around it," Sardana added.
Adani Power (APL), a part of the diversified Adani Group, is a major private thermal power producer in India.
The company has an installed thermal power capacity of 13,610 MW spread across seven power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, and Madhya Pradesh, apart from a 40 MW solar power plant in Gujarat.
