Adani Power's consolidated net loss narrowed to Rs 263.39 crore in the April-June quarter of 2019-20, helped by improvement in its operating performance, according to a regulatory filing.
The company had reported a net loss of Rs 825.15 crore for the April-June quarter of 2018-19, Adani Power said in a regulatory filing.
Its total income jumped over two-folds to Rs 8,014.50 crore during the quarter under review as against Rs 3,959.40 crore of the corresponding quarter of the last fiscal.
"This growth in revenues was due to the improved operating performance," said Adani Power in a statement.
According to the company, loss during April-June quarter, the was mainly due to exceptional items of Rs 1,004 crore, pertaining to the write-off of certain receivables and advances, owing to the acceptance of the Resolution Plan submitted by the company for the acquisition of Korba West Power Co Ltd.
Adani Power's total expense was at Rs 7,132.06 crore as against Rs 4,712.52 crore, up 51.34 per cent.
Commenting on the results, Adani Group Chairman Gautam Adani said: "Adani Power has cemented its position as India's leading private thermal power producer, with the acquisition of two operating power plants in Chhattisgarh, and taken another step forward in furtherance of our vision to play an important role in fulfilling India's growing need for electricity."
Over the outlook, he said: "The Adani Group remains committed to sustainable growth and being an active contributor to nation building."
Shares of Adani Power on Wednesday settled at Rs 59.25 on BSE, down 0.42 per cent from the previous close.
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