For the March 2022–2023 quarter, Adani Power Ltd (APL) reported a roughly 13% increase in consolidated net profit of Rs 5,242 crore.
According to a statement released on Friday, the company's net profit from January through March 2021–22 was Rs 4,645 crore.
Consolidated PAT (profit after tax) for Q4 FY23 increased, according to APL, due to decreased financing costs as well as certain reversals brought on by the plan to merge six companies.
However, total revenue decreased to Rs 10,795 crore from Rs 13,307 crore in the same period last year. In comparison to a year earlier, total costs increased to Rs 9,897 crore from Rs 7,174 crore.
According to the firm, “PAT for FY23 increased by 118.4% at Rs 10,727 crore vs Rs 4,912 crore for FY22 due to higher EBITDA, lower finance cost on account of debt prepayment, as well as certain reversals subsequent to the Scheme of Amalgamation becoming effective.”
EBITDA, or profits before interest, taxes, depreciation, and amortisation, was greater for the firm in FY23 at Rs 14,312 crore than it was in FY22 at Rs 13,789 crore.
The overall revenue in FY23 increased by 35.8% to Rs 43,041 crore from Rs 31,686 crore in FY22. APL had sales of 53.39 billion units and an average consolidated Plant Load Factor (PLF) of 47.9% during the previous fiscal year, up from 52.27 billion units and a consolidated PLF of 51.5%, respectively.
APL achieved an average consolidated PLF of 52.0% and aggregate sales volumes of 14.25 BU during Q4 FY23, compared to an average consolidated PLF of 52.1% and sales volumes of 13.15 BU in the same quarter the previous year.
High import coal costs limited power offtake under long-term Power Purchase Agreements (PPAs), while domestic coal-related restrictions had an impact on the PLF of open capacity.
“Six operating subsidiaries of APL, namely Adani Power Maharashtra, Adani Power Rajasthan, Adani Power (Mundra), Udupi Power Corporation, Raipur Energen, and Raigarh Energy Generation have been amalgamated with it effective October 1, 2021,” the statement said. “Consequent to approval of the Scheme of Amalgamation by NCLT and fulfilment of the conditions precedent thereto.”
According to Gautam Adani, chairman of the Adani Group, India's expanding need for high-quality infrastructure facilities is serving as a launchpad for the country's next stage of economic development.
He said, “Adani Group is completely dedicated to fulfilling it in a sustainable and reliable way as the nation's leading infrastructure conglomerate.
With the commissioning of the first 800 MW unit of the Godda Ultra-Supercritical Thermal Power Project, which will give Bangladesh a dependable source of electricity and assist it in achieving its long-term economic goals, we have also begun a new chapter in cross-border cooperation, according to S B Khyalia, CEO of Adani Power.
Adani Group, which is diverse, includes APL. Apart from a 40 MW solar power plant in Gujarat, the business has an installed thermal generating capacity of 14,410 MW split among eight power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand.