Page 2 - Adani Power Ltd News

Adani Power Q2 results: Net profit declines 50% to Rs 3,297.52 crore

Adani Power on Monday reported a 50 per cent decline in its consolidated net profit to Rs 3,297.52 crore in the September quarter compared to a year ago, mainly due to lower income as well as higher taxes. The company had posted a consolidated net profit of Rs 6,594.17 crore in the quarter ended September 2023, a BSE filing stated. The company explained that there were lower one-time revenue recognition of prior period items of Rs 1,020 crore in the first half of FY25 (April-September 2024) as compared to Rs 9,278 crore in H1 FY24, following the resolution of all major regulatory matters and realisation of outstanding dues from discoms (power distribution companies) in the previous year. It also stated that the one-time prior period revenue recognition in Q2 FY25 (July-September 2024) was Rs 598 crore, as compared to Rs 2,781 crore in Q2 FY24. The company had higher tax expenses, including deferred tax charge totalling to Rs 1,829 crore in H1 FY25, whereas H1 FY24 had recognition o

Q2 results today: Airtel, Adani Power and BHEL among 168 to post earnings

Q2FY25 company results: Indian Oil, Ambuja Cements, Aditya Birla Sun Life AMC, Sun Pharma and more will report their second-quarter earnings on October 28

Here's why Adani Power share price is buzzing in trade on October 24

Adani Power shares rose after the company announced that its board of directors will meet on October 28, to consider raising funds worth up to Rs 5,000 crore via non-convertible debentures (NCDs)

Adani, Jindal Power among bidders for Sinnar Thermal Power takeover

The Sinnar Thermal Power Plant entered insolvency in January 2024 following Shapoorji Pallonji & Co's plea over unpaid construction dues

SC revives Adani's Rs 27K cr insolvency resolution for KSK Mahanadi project

The lenders have made claims of Rs 29,330 crore against KSK Mahanadi, which was sent for debt resolution in 2020 after the firm defaulted on its debt payments

Sri Lanka's new govt reconsidering approval to Adani's power project

Sri Lanka's new government led by Anura Kumara Dissanayake on Monday told the Supreme Court that it would reconsider the approval granted by the previous government to India's Adani Group for a wind power project. A five-member Supreme Court (SC) bench was told on behalf of the attorney general that the decision to review the project had been taken at a Cabinet meeting held on October 7. The final decision of the new government would be conveyed after the installation of the new Cabinet after the November 14 parliamentary election, the court was told. President Dissanayake in the run-up to the September 21 presidential election had pledged that his National People's Power (NPP) alliance would annul the project. The NPP claimed that the project posed a threat to Sri Lanka's energy sector sovereignty and promised that it would be cancelled in the event of their victory. The Adani Group was set to invest over USD 440 million in the 20-year agreement for the development of 484 megawat

Adani Group stocks in focus; Energy Solutions, AEL rally up to 6%

Shares of Adani Energy Solutions, Adani Ports, Adani Enterprises, Adani Power, Adani Green Energy, Adani Total Gas, Adani Wilmar and Ambuja Cements were up in the range of 2 to 6 per cent.

Amid Bangladesh turmoil, Adani eyes Indian power grid to link Godda plant

Adani Power's Jharkhand plant, which sells its entire output to Bangladesh, is exploring selling power in India. This comes amid reports that Bangladesh may review its pact with the company

Adani Power, Adani Green rise upto 8% on power supply deal with Maha Discom

The uptick in the share prices of these companies came on the back of securing a letter of intent (LoI) form Maharashtra state DISCOM for supply of 6,600 MW hybrid solar and thermal power.

Majority of Adani group stocks settle lower, Adani Power down nearly 3%

As many as seven Adani group stocks ended lower on Friday as the Swiss authorities froze USD 311 million (Rs 2,610 crore) held by a Taiwanese resident in multiple Swiss bank accounts as part of a money laundering probe, suspecting he may be a frontman from the group -- a charge the conglomerate vehemently denied. Shares of Adani Power dropped 2.73 per cent, Adani Energy Solutions declined 2.42 per cent, Adani Ports slipped 1.37 per cent, Adani Green Energy went lower by 1.17 per cent, Adani Enterprises dipped 0.76 per cent, Adani Total Gas (0.55 per cent) and Adani Wilmar (0.37 per cent) on the BSE. However, three group firms managed to settle in the green. The stock of ACC jumped 1.94 per cent, NDTV climbed 1.01 per cent and Ambuja Cements (0.01 per cent). During the day, shares of Adani Power tumbled 3.20 per cent, Adani Energy dived 2.75 per cent, Adani Green declined 1.53 per cent, Adani Ports went down by 1.51 per cent, Adani Enterprises fell 1.18 per cent, Adani Wilmar (1.07 p

$500 mn in overdue power debt not sustainable: Adani Group to Bangladesh

The power deal, signed under Sheikh Hasina leadership, involves the supply of coal-generated electricity from Adani's 1,600 MW Godda plant, which the Yunus govt claims is opaque and expensive

Adani Power to boost Kawai plant capacity with Rs 18,000 crore investment

Adani Power plans to invest Rs 18,000 crore to expand its Kawai power plant in Rajasthan, boosting its capacity from 1,320 MW to 4,520 MW in two phases

SC seeks Himachal govt's reply on Adani Power plea for Rs 280 cr refund

The bench of Justices M M Sundresh and Aravind Kumar, however, refused to stay the Himachal Pradesh High Court order overturning a single-bench's decision

SC issues notice to HP on Adani Power's plea seeking Rs 280 cr refund

The Supreme Court on Monday sought response from Himachal Pradesh on a plea filed by Adani Power Limited seeking a refund of Rs 280 crore along with interest from the state government in connection with two hydropower projects in Kinnaur district. On July 18, a division bench of the high court had overturned the decision of a single bench to return the amount of Rs 280 crore to Adani Power. An apex court bench of Justices M M Sundresh and Aravind Kumar issued notice to the Sukhvinder Singh Sukhu government on the appeal filed by Adani Power challenging the high court order. Adani Power has moved the top court against the high court judgment. "It will be crucial to mention here that the Council of Ministers (of Himachal government) had decided to issue the refund vide decision on September 4, 2015. Admittedly, the State on its volition had decided to refund the said monies to the petitioner (Adani Power). "However, the petitioner has remained out of pocket without any reason and at

Adani Power shares surge after incorporating new unit in Middle East

Adani Power's share price surged 1.56 per cent at Rs 671.75 per share on the BSE in Tuesday's intraday deals

Indian power firms owed over $1 bn by Bangladesh amid financial turmoil

Five Indian power companies-Adani Power, SEIL Energy India, NTPC, PTC, and Power Grid Corporation of India-are collectively owed over $1 billion.

Bangladesh's crisis leaves Adani Power chasing $800 million in dues

The economic crisis in Bangladesh has deepened, with overall arrears reportedly reaching $2 billion

Here's why Adani Power's shares are in news today; check details

Shares price of Adani Power rose as much as 2.24 per cent at Rs 689 per share on the BSE in Friday's intraday deals

Adani Power gets approval to acquire Lanco Amarkantak Power for Rs 4,101 cr

Adani Power on Thursday said the NCLT Hyderabad bench has approved its plan to acquire Lanco Amarkantak Power Ltd (LAPL) for an upfront payment of Rs 4,101 crore. LAPL is undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, a BSE filing said. According to the filing, the acquisition shall be subject to the satisfaction of conditions precedent mentioned under the resolution plan. Adani Power will acquire 100 per cent shareholding in the LAPL for a cash consideration, the filing said. LAPL owns and operates a 2x300 MW (600 MW) thermal power plant (Phase-I) at Pathadi Village in Korba District of Chhattisgarh. The majority of the power generated from the Phase-I capacity is supplied to Haryana and Madhya Pradesh Discoms under long-term power purchase arrangements through Power Trading Corporation Ltd. It has 2.784 MMT of long-term fuel supply agreement with Coal India Limited's subsidiary South Eastern Coalfields Ltd (SECL). LAPL i

Adani Power shares fall 3% amid report of stake sale by Promoter group

Adani Power block deal news: Fall in stock price follows news that promoters of the company may offload a 5 per cent stake via a block deal,