Adani Power Q1 Results: PAT soars 83% YoY to Rs 8,759 crore

economictimes.indiatimes.com:

Adani Power has reported a consolidated profit at Rs 8759 crore, up 83% for the quarter ended June 2023. It was Rs 4779.8 crore during the corresponding quarter in FY2022.

Revenue from operations was down 19.8% at Rs 11005.5 crore against Rs 13,723 crore in the corresponding quarter in FY2022. Consolidated ebitda stood 41.5% higher at Rs 10,618 Crore, as compared to Rs 7,506 Crore in Q1 FY 2022-23.

Ebitda growth was supported mainly by prior period income recognition and incremental contribution of Godda power plant. «With satisfactory resolution of virtually all regulatory matters, the company’s revenues and cash flows have now entered a stable phase,» said S B Khyalia, CEO, Adani Power adding that the company has increased its lead among independent power producers with commissioning of the 1,600 MW Godda plant and entered a new era of transnational power sales.

During the quarter the company achieved an average consolidated plant load factor (PLF) of 60.1% and sales of 17.5 billion units (BU) on an installed capacity of 15,250 MW, as compared to consolidated PLF of 58.6% and sales volume of 16.3 BU on an installed capacity of 13,650 MW in the quarter ended 30th June 2022. The company said installed capacity grew from 13,650 MW as of 30th June 2022 to 15,250 MW as of 30th June 2023 after commissioning of the 1,600 MW Godda Ultra-supercritical power plant, which supplies cross-border power to Bangladesh.

During the quarter, the power plants at Udupi, Raipur, Raigarh, and Mahan achieved an increase in PLF, while power plants at Mundra, Tiroda, and Kawai achieved lower PLF due to erratic weather conditions leading to back down from Discoms. Incremental generation capacity of the 1,600 MW Godda ultra-supercritical thermal