Mumbai: Adani Power Ltd has clocked a 13 per cent rise in consolidated net profit for the fourth quarter ended March 31. The company posted a net profit of Rs 5,242.48 crore against Rs 4,645.47 crore in the same period of the previous year.
The rise in its profit came despite the company reporting lower revenue during the period. Revenues came in at Rs 10,242.06 crore against Rs 10,597.78 crore in the year-ago period while total expenses also climbed to Rs 9,897.60 crore from Rs 7,174.93 crore.
However, there was a total tax credit of Rs 4,725.96 crore compared with an expense of Rs 1,528.85 crore in the corresponding period of the previous fiscal.
The quarter was also marked by a fall in finance cost to Rs 746 crore from Rs 1,035 crore last year.
Adani Power added that the consolidated profit after tax for the quarter grew on account of lower finance cost as well as certain reversals consequent to the scheme of amalgamation of six subsidiaries with the company. For the full year, the profit after tax was higher by 118.4 per cent at Rs 10,727 crore against Rs 4,912 crore for 2021-22.
Adani Power said that during the quarter it achieved average consolidated PLF (plant load factor) of 52 per cent, and aggregate sales volumes of 14.25 billion units (BU). During the same period of 2021-22, the company achieved an average consolidated PLF of 52.1 per cent and sales volume of 13.15 BU. It added that power offtake under long-term Power Purchase Agreements (PPAs) was constrained by high import coal prices.
“India’s growing demand for world-class infrastructure facilities is acting as the springboard for the next phase of its economic growth. As the nation’s foremost infrastructure conglomerate, Adani group is fully committed to meet it in a sustainable and dependable manner.
“Reliable and scalable base load power is fundamental to its economic sustenance, which Adani Power is best placed to supplement along with the group’s diversified presence across the energy value chain’’, Gautam Adani, chairman of the Adani group, said.
