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Adani Power Limited (APL) has reported nearly 13% jump in consolidated net profit to ₹5,242 crore for the March quarter 2022-23.
“The company had posted a net profit of ₹4,645 crore in January-March 2021-22,” the company said in a statement on May 5.
APL said, “Consolidated PAT (profit after tax) for Q4 FY2023 increases… on account of lower finance costs as well as some upsides resulting from the plan of amalgamation (of the six subsidiaries). “
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Total income, however, declined to Rs 10,795 crore from Rs 13,307 crore in the year-ago quarter. Total expenditure was higher at Rs 9,897 crore as against Rs 7,174 crore a year ago.
“PAT for FY23 increased by 118.4% to ₹10,727 crore versus ₹4,912 crore for FY22, on account of higher EBITDA, lower finance cost on account of debt prepayment, as well as some headwinds resulting from the coming into force of the scheme of amalgamation,” the company said.
The company’s earnings before interest, tax, depreciation and amortization (EBITDA) for FY23 was higher at ₹14,312 crore as against ₹13,789 crore in FY22.
In FY23, the total revenue was also 35.8% higher at ₹43,041 crore from ₹31,686 crore in FY22. In the last financial year, APL achieved an average consolidated plant load factor (PLF) of 47.9% and sales of 53.39 billion units as compared to consolidated PLF of 51.5% and sales of 52.27 BUs a year ago.
During Q4 FY23, APL achieved an average consolidated PLF of 52%, and a total sales volume of 14.25 BU against an average consolidated PLF of 52.1% and a sales volume of 13.15 BU.
Power offtake under long-term Power Purchase Agreements (PPAs) was constrained by higher import coal prices, while PLF of open capacities was impacted by constraints related to domestic coal.
“Consequent upon the approval of the Scheme of Amalgamation by the NCLT and fulfillment of conditions precedent thereto, the six operating subsidiaries of APL, namely, Adani Power Maharashtra, Adani Power Rajasthan, Adani Power (Mundra), Udupi Power Corporation, Raipur Energen, and Raigarh energy generation has been made effective from October 1, 2021,” the statement said.
Adani Group Chairman Gautam Adani said, India’s growing demand for world-class infrastructure is serving as the springboard for its next phase of economic growth.
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“As the country’s leading infrastructure conglomerate, the Adani Group is fully committed to accomplishing this in a sustainable and reliable manner,” he added.
Adani Power CEO SB Khayaliya said, “We have also started a new chapter in cross-border cooperation 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. power, and help achieve its long-term economic goals.
APL is a part of the diversified Adani Group. The company has a thermal power capacity of 14,410 MW spread across eight power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh and Jharkhand, besides a 40 MW solar power plant in Gujarat.