Adani Power Ltd on Monday said its quarterly net profit rose 77 per cent to Rs 174 crore from Rs 98 crore a year earlier. Revenue for the three months to March jumped by 325 per cent to Rs 856 crore from Rs 201 crore.
“The growth in revenues is largely due to the addition of 1,320 megawatt (Mw) of power generation capacity during 2010-11. In this year (2011-12), we expect to commission additional 4,000 Mw that will take the total generation capacity to 6,000 Mw. This will enable us to replicate similar financial results for this year as well,” said Prabal Banerji, chief financial officer.
In 2010-11, its total generation capacities advanced to 1,980 Mw from 660 Mw in the previous year. Banerji said the company would invest Rs 20,000-22,000 crore in capacity addition.
“Adani Power is implementing 16,500 Mw of power generation capacities across seven locations. With such a robust financial performance, we are confident of meeting our target by 2020,” said Gautam Adani, Group chairman.
Adani Power’s gross generated units for 2010-11 stood at 7.6 billion against 1.4 billion in the previous year.
It sold 6.8 billion units during the year, against 1.2 billion in 2009-10. The average realisation stood at Rs 3.09/kilowatt hour.
Its net profit for the financial year ended on March 31 rose 207 per cent to Rs 524 crore from Rs 171 crore in the previous year. Revenue logged a 384 per cent rise at Rs 2,106 crore, compared to Rs 435 crore in 2009-10.
