 "Adani Power Q3 results: Net profit surges to Rs 2,738 cr as volumes swell")
Adani Power on Thursday posted a multi-fold increase in its net profit to Rs 2,738 crore for the December quarter of 2023-24 on the back of a lower increase in cost and a higher rise in sale volumes.
In Q3FY24, the revenue from operations also rose 67 per cent to touch Rs 12,991.44 on a year-on-year (Y-o-Y) basis.
Consolidated continuing Ebitda (earnings before interest, taxes, depreciation, and amortization) for the quarter, the company said, more than tripled to Rs 5,059 crore on a year-on-year (Y-o-Y) basis due to greater revenues and lower import fuel prices.
The power sale volumes in the quarter under review, the company said, were at 21.5 billion units, up 82 per cent Y-o-Y due to improved power demand and larger installed capacity.
In a separate notification, the company informed the exchanges of the appointment of Dilip Kumar Jha as the company’s new chief financial officer (CFO) starting April 1.
Meanwhile, the company added that it has inked an initial pact to sell 100 per cent equity in its two arms Aviceda Infra Park and Innovant Buildwell to AdaniConnex for Rs 540 crore.