Adani Power was locked in an upper circuit of 5% at Rs 279.50 after the company reported a multi-fold jump in consolidated net profit to Rs 4,645.47 crore in Q4 FY22 as compared to a net profit of Rs 13.13 crore in Q4 FY21.
Revenue from operations in the fourth quarter stood at Rs 10,597.78 crore, up 66.27% from Rs 6,373.60 crore reported in the same period last year.
Consolidated profit before tax stood at Rs 6,132.99 crore in Q4 FY22 as against Rs 234.18 crore in Q4 FY21. Total expenditure jumped 7.60% to Rs 7,174.93 crore in Q4 FY22 as compared to Rs 6,667.83 crore in Q4 FY21.
The EBITDA for Q4 FY22 soared 271% to Rs 7,942 crore as compared to Rs 2,143 crore in Q4 FY21. EBITDA growth was aided by prior period income recognition, greater shortfall claims due to high import coal prices, and higher merchant and short term tariffs and volumes, as compared to Q4 FY21.
During Q4 FY 2021-22, Adani Power (APL), along with the power plants of its subsidiaries achieved an Average Plant Load Factor (PLF) of 52.1%, and aggregate sales volumes of 13.1 billion units (BU). In comparison, during Q4 FY21, APL and its subsidiaries achieved an average PLF of 59.6% and sales volume of 14.8 BU. Operating performance during the quarter was affected due to high import coal prices and plant overhaul, partially offset by improved volumes due to high demand for power.
On full year basis, the company reported a 286.74% increase in net profit to Rs 4,911.58 crore on a 5.68% rise in net sales to Rs 27,711.18 crore in FY22 over FY21.
The electricity demand continued to grow strongly in India, driven both by economic growth and a heatwave in the north-western parts of the country. Aggregate energy demand for FY22 across the nation was 1,380 billion units (BU), registering a growth of 8.2% over the energy demand for FY21. Similarly, peak power demand registered a growth of 6.7% to reach a record level of 203 GW (gigawatt) in FY22 as compared to FY21. Peak power deficit widened to 1.2% during FY22, as compared to 0.4% during FY21, while energy deficit was steady at 0.4%.
Commenting on the quarterly results of the company, Gautam Adani, the chairman of Adani Group, said, Availability of reliable power supply to various sectors across the nation is critical to India's economic growth. The Adani Group stands committed to fulfilling India's energy needs in a sustainable, reliable, and affordable manner. Our diversified presence across the energy value chain helps us ensure that this vital input is always available to power the economy, even during times of global volatility, and helps advance the vision of progress and prosperity for all.
Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India.
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