Adani Power on Wednesday reported a 96 per cent decline in consolidated net profit at Rs 8.77 crore for December quarter of 2022-23 mainly on the back of higher expenses.

In the year-ago period, the profit was Rs 218.49 crore, the company said in a BSE filing. Total expenses increased to Rs 8,078.31 crore in the quarter from Rs 5,389.24 crore.

Total income rose to Rs 8,290.21 crore from Rs 5,593.58 crore in the same period a year ago. During the quarter, the company and its subsidiaries achieved an average Plant Load Factor (PLF or capacity utilisation) of 42.1 per cent and power sale volume of 11.8 Billion Units (BU) compared with PLF of 41 per cent and power sale volume of 10.6 BU in the third quarter of FY2022.

Operating performance for Q3 FY23 includes the performance of the 1,200 MW power plant of Mahan Energen Ltd, which was acquired in March 2022.

Operating performance during the quarter under review was constrained mainly due to high prices of imported coal and insufficient domestic fuel availability due to high power demand.

Adani Wilmar

Edible oil major Adani Wilmar Ltd on Wednesday reported a 16 per cent increase in its consolidated profit to Rs 246.16 crore for the third quarter ended December on higher revenue.

Net profit was Rs 211.41 crore in the year-ago period. Total income rose to Rs 15,515.55 crore in the third quarter of this fiscal from Rs 14,398.08 crore a year ago, according to a regulatory filing.

The company’s net profit fell to Rs 488.51 crore during the April-December period of this fiscal compared with Rs 569.45 crore in the year-ago period.