Adani Power’s share price continued to make gains for the third straight session as the company released its earnings for the March quarter.
What Happened: The company’s total revenue stood at ₹10,795, down from the 13,308 crore revenue it reported in the same quarter last year. In a statement, the Adani Group company said that the slump was in most parts due to the inclusion of prior period revenue from operations of ₹2,946 crore and prior period Other Income of ₹1,982 crore in the revenue for the March quarter last year.
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EBITDA for the review period stood at ₹2,461, much lower than the ₹7,942 crore EBITDA it reported in the corresponding quarter of last year. “EBITDA was affected mainly by lower prior period
income recognition and higher fuel cost” the company added.
Net profits, on the other hand, saw a jump of 12.9% to ₹5,242 crore. Earnings per share for the quarter stood at ₹12.81.
The company’s board also approved the reappointment of Anil Sardana as the Managing Director of the Company for a period of three years till July 2026. Sardana is also the Managing Director of Adani Transmission.
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Price Action: Adani Power’s share price was up 2.56% to trade at ₹246 as the markets opened on Monday.
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