Adani group-owned, Adani Power Ltd has registered 50 per cent rise in the net profits for the third quarter ended December 2010 at Rs 109.11 crore against Rs 72.49 crore for the corresponding period last year.
The company's turnover for the quarter stood at Rs 502.60 crore, up 115 per cent over the corresponding period of the previous year. The growth in income from operations is largely due to the addition of 330 MW power generation capacity in Q3, taking the total power generation capacity of Adani Power to 1320 MW in third quarter of 2010-11, the company said in a statement.
Commenting on the results, Gautam Adani, chairman, Adani Power said, “Adani Power is currently implementing 16,500 MW of power generation projects across seven locations in India. With the robust demand from home markets only set to grow, coupled with our highly competitive assets, the future augurs well for Adani Power.” Adani Power synchronised India’s first ever super-critical power generation unit of 660-MW at its power plant in Mundra, Gujarat.
The company also sold 1717.49 million units of electrical energy in the third quarter ended December 2010, compared to 605.59 million units in the corresponding quarter of the previous year.