 "Adani Power Q4 results: Net profit rises 12.9% to Rs 5,242 crore")
Adani Power on Friday posted a consolidated net profit of Rs 5,242 crore for the March quarter. This is a 12.9 per cent rise from Rs 4,645 crore a year ago, the company statement said.
In a filing with the stock exchanges, the company said that the consolidated total revenue was higher by 35.8 per cent at Rs 43,041 crore in FY23 against Rs 31,686 crore in FY22 mainly due to improved tariff realisation, high import coal price and higher one-time revenue recognition on account of regulatory claims.
The company’s consolidated EBITDA for FY23 was higher at Rs 14,312 crore against Rs 13,789 crore in FY22 and consolidated PAT for FY23 higher by 118.4 per cent at Rs 10,727 crore against Rs 4,912 crore for FY22.
“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 of renewable and conventional generation, transmission, and distribution,” said Gautam Adani, Chairman, Adani Group.
"The indefatigable spirit that drives the Adani Group has been aptly demonstrated by Adani Power Limited by surmounting challenges through perseverance, dedication, and strong belief in fundamental values. The Company now enters the next stage of its corporate journey with a healthy balance sheet, a modern and efficient fleet, and a revitalized holding structure. The culmination of long-deliberated regulatory matters has helped evolve and refine the principles that will enable the power sector to grow profitably and equitably. We have also started a new chapter in cross-border co-operation with the commissioning of the first 800 MW unit of the Godda Ultra-supercritical thermal power project, which will provide Bangladesh with a reliable source of electricity, and help it achieve its long-term economic goals,” said S B Khyalia, CEO, Adani Power Limited.