Adani Power Shares Climb 3% On The Back Of A 83% Rise In Net Profit

Adani Power saw a significant 83% growth in its net profit year-on-year, posting a consolidated profit of ₹8,759.42 crore for the quarter ending in June. The company’s consolidated net revenue fell by almost 20% to ₹11,005.54 crore.

Adani Power Q1 Performance: The impressive profit growth came chiefly from a rise in other income, which surged from ₹1,786 crore a year ago to ₹7,103 crore. Adani Power attributed this growth to higher one-off revenue from regulatory claims and late payment charges.

Operating profit, or profit before accounting for interest, taxes, depreciation, and amortisation, also saw a 42% year-on-year growth to ₹10,618 crore. This was largely due to the increased one-off revenue and the added contribution from the Godda power plant.

Plants and power: Plant productivity, measured as the plant load factor, improved slightly from 58.6% a year ago to 60.1% this quarter. The company sold 17.5 billion units of power, compared to 16.3 billion units a year ago.

Adani Power’s installed capacity increased to 15,250 MW, up from 13,650 MW a year ago, with the addition of the 1,600 MW Godda ultra-supercritical power plant. This plant also significantly contributed to the rise in sales volumes.

Price Action: Despite mixed performance across its power plants, the company’s shares closed nearly 3% higher on the NSE at ₹274.85, bolstered by the improved earnings.

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