Adani Power Q4 profit grows 13% Rs 5,242 cr on lower finance cost

Adani Power Ltd (APL) has recorded a jump of about 13 per cent in consolidated net profit at Rs.5,242 crore for the quarter of March 2022-23.

The company reported a net profit of Rs 4,645 crore in the January-March 2021-22 period, the company said in a statement on Friday.

“Consolidated after-tax earnings are growing for the fourth quarter of fiscal ’23 … at the expense of a lower cost of financing as well as some setbacks resulting from the (six subsidiaries) merger plan,” APL said.

However, total income fell to Rs.10,795 crore from Rs.13,307 crore in the year-ago quarter. Total expenses were higher at Rs.9,897 crore as against Rs.7,174 crore a year earlier.

“PAT for FY23 is higher by 118.4 per cent at Rs.10,727 crore vs. Rs.4,912 crore for FY22 due to higher EBITDA, lower cost of financing on account of prepayment of debt as well as some repercussions from merger plan to take effect,” the company said.

The company’s EBITDA for FY23 was higher at Rs.14,312 crore as against Rs.13,789 crore in FY22.

In FY23, total revenue was also 35.8 per cent higher at Rs. 43,041 crore over Rs. 31,686 crore in FY22. In the last fiscal year, APL achieved an average consolidated plant load factor (PLF) of 47.9 per cent and sales It amounted to 53.39 billion units compared to a combined PLF of 51.5 percent and a sales volume of 52.27 BU a year ago.

During the fourth quarter of fiscal ’23, APL achieved an average consolidated PLF of 52%, total sales volume of 14.25 BU versus an average consolidated PLF of 52.1% and sales volume of 13.15 BU in the year-ago period.

Power carve-outs under long-term power purchase agreements (PPAs) have been constrained by higher coal import prices, while open capacity power prices have been affected by domestic constraints related to coal.

“As a result of the approval of the merger scheme by NCLT and fulfillment of its foregoing conditions, six operating subsidiaries of APL, i.e. Adani Power Maharashtra, Adani Power Rajasthan, Adani Power (Mundra), Udupi Power Corporation, Raipur Energen and Raigarh Generating have been merged,” the statement said. Energy with it from October 1, 2021.”

The Chairman of the Adani Group, Gautam Adani, said that India’s growing demand for world-class infrastructure facilities serves as a stepping stone to the next phase of its economic growth.

“As the largest infrastructure conglomerate in the country, the Adani Group is fully committed to delivering on it in a sustainable and dependable manner,” he added.

“We have also started a new chapter in cross-border collaboration by commissioning the first 800MW unit of the Godda supercritical thermal power project, which will provide Bangladesh with a reliable source of supercritical thermal power and help it achieve electricity,” said SB Khalia, CEO of Adani Power. Its economic goals are far-reaching.

APL is part of the diversified Adani Group. The company has an installed thermal power capacity of 14,410 MW distributed over eight power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh and Jharkhand, as well as 40 MW solar power plants in Gujarat.