Adani Group's power arm, Adani Power Limited (APL) has registered net loss of Rs 225.39 crore for the quarter ended September 30, 2012, the company informed after its board meeting on Friday.
APL has posted a loss for the fourth consecutive quarter since December 2011.
On standalone basis, APL's net loss for the September quarter stood at Rs 225.39 crore, compared with a net profit of Rs 177.48 crore recorded in the corresponding quarter last year. The company's total income rose from Rs 1,124.74 crore for the quarter ended September 30, 2011 to Rs 1,568.38 crore for the quarter ended September 30, 2012.
On consolidated basis, Adani Power has registered net loss of Rs 260.91 crore for the quarter ended September 30, 2012 as compared to net profit of Rs 172.64 crore in the same period last year. Total income for the period rose from Rs 1,132.92 crore for the quarter ended September 30, 2011 to Rs 1,551.17 crore for the quarter ended September 30, 2012.
In the quarter ended December 2011, APL had posted net loss of Rs 358.13 crore. Also, in the fourth quarter of last fiscal ended March 31, 2012, the company had posted net loss of Rs 290.16 crore, against a profit of Rs 174.32 crore in the corresponding quarter previous year.
It may be noted that in the first quarter of the current fiscal, APL registered net loss of Rs 793 crore for quarter ended June 30, 2012, against profit of Rs 177 crore in the same period last year.
The company had attributed the loss to high coal cost due to high cost incidence of imported coal and it was further aggravated by non-cash book entries like depreciation and unrealized losses on account of provision of rupee depreciation as per prudential accounting norms.