)
Adani Group’s power arm, Adani Power Ltd (APL), has posted a net loss of Rs 919 crore on standalone basis for the quarter ended June 2013. The company had reported a net loss of Rs 793 crore in the corresponding period last fiscal.
It may be mentioned here that the company’s loss also more than doubled as against Rs 426.5 crore for the fourth quarter of 2012-13.
The company's total income from operations increased to Rs 2,110 crore for the first quarter ended June 2013 as against Rs 1,464 crore during the same period last year, showing a growth of over 44%.
Notably, for the fiscal 2012-13, the company has posted net loss of Rs 1,952 crore on a total income of Rs 6333 crore.
On consolidated basis, company’s net loss stood at Rs 1,198 crore as against Rs 810 crore in the same period last year. The total consolidated income from operations stood at Rs 2,537 crore against Rs 1,503 crore last year.
Adani Power’s finance cost as mentioned by the company in its results announcement on Wednesday, has also jumped to Rs 675 crore as against Rs 280 crore in the corresponding quarter last year. However, the Adani group chairman Gautam Adani expressed hope over things turning to normal with several government measures turning in favour of company.
"We appreciate the initiatives taken by the government to resolve various issues faced by the power sector such as the CCEA directive for allowing imported coal price as a pass through, presidential directive to Coal India for signing fuel supply agreements for 78 Gw capacity, process in Financial Restructuring Plan (FRP) for state electricity boards and CERC directive for compensatory tariff. We expect favorable response from these measures and also impact of more stable rupee on the financial performance of the ensuing quarters," said Adani in a statement issued after the results announcement.
On operations front, the company sold 8.1 billion units during first quarter ending June 2013 as against 4.5 billion units sold in the same period previous year. The company currently has an operational capacity of 7,260 Mw.
Adani Power has raised Rs 2,562 crore by way of preferential allotment of shares to promoters at Rs 53.11 per share increasing the promoter holding to 75%.
It may be mentioned here that the company’s loss also more than doubled as against Rs 426.5 crore for the fourth quarter of 2012-13.
The company's total income from operations increased to Rs 2,110 crore for the first quarter ended June 2013 as against Rs 1,464 crore during the same period last year, showing a growth of over 44%.
Notably, for the fiscal 2012-13, the company has posted net loss of Rs 1,952 crore on a total income of Rs 6333 crore.
On consolidated basis, company’s net loss stood at Rs 1,198 crore as against Rs 810 crore in the same period last year. The total consolidated income from operations stood at Rs 2,537 crore against Rs 1,503 crore last year.
Adani Power’s finance cost as mentioned by the company in its results announcement on Wednesday, has also jumped to Rs 675 crore as against Rs 280 crore in the corresponding quarter last year. However, the Adani group chairman Gautam Adani expressed hope over things turning to normal with several government measures turning in favour of company.
"We appreciate the initiatives taken by the government to resolve various issues faced by the power sector such as the CCEA directive for allowing imported coal price as a pass through, presidential directive to Coal India for signing fuel supply agreements for 78 Gw capacity, process in Financial Restructuring Plan (FRP) for state electricity boards and CERC directive for compensatory tariff. We expect favorable response from these measures and also impact of more stable rupee on the financial performance of the ensuing quarters," said Adani in a statement issued after the results announcement.
On operations front, the company sold 8.1 billion units during first quarter ending June 2013 as against 4.5 billion units sold in the same period previous year. The company currently has an operational capacity of 7,260 Mw.
Adani Power has raised Rs 2,562 crore by way of preferential allotment of shares to promoters at Rs 53.11 per share increasing the promoter holding to 75%.
