Adani Power share price rises over 3% after strong Q1 net profit growth
₹284.95 apiece on the BSE. Adani Power, the Adani group company, on Thursday, had posted a net profit of ₹8,759 crore for the first quarter of FY24, registering a robust growth of 83% from ₹4,780 crore in the same quarter last year.
The company’s revenue in Q1FY24, however, declined 19.8% to ₹11,006 crore from ₹13,723 crore in the corresponding quarter of last fiscal. Consolidated EBITDA during the quarter under review fell 35% to ₹3,514 crore from ₹5,412 crore, while EBITDA margin declined to 32% from 39%, YoY.
Adani Power’s installed capacity grew to 15,250 MW as of June 30, 2023, from 13,650 MW as of June 30, 2022, after commissioning of the 1,600 MW Godda Ultra-supercritical Power Plant, which supplies cross-border power to Bangladesh. 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.
At 9:45 am, Adani Power share price was trading 0.75% higher at ₹276.95 apiece on the BSE. Catch Live Market Updates hereGet the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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