Adani Power’s Q4 earnings surge by 13%, reaching Rs 5,242 crore

Adani Power Ltd (APL) has reported a consolidated net profit of Rs 5,242 crore for the March quarter of 2022-23, representing a 13% increase from the previous year’s figure of Rs 4,645 crore, according to a statement released by the company on Friday. The growth was attributed to lower finance costs and reversals resulting from the amalgamation of six subsidiaries. However, the company’s total income decreased to Rs 10,795 crore from Rs 13,307 crore in the year-ago quarter, while total expenses increased to Rs 9,897 crore from Rs 7,174 crore a year earlier.

For the entire fiscal year 2022-23, APL’s net profit was 118.4% higher than the previous year, at Rs 10,727 crore, thanks to higher EBITDA, lower finance costs resulting from debt prepayment, and certain reversals as a result of the Scheme of Amalgamation coming into effect. APL’s EBITDA for the year was higher at Rs 14,312 crore compared to Rs 13,789 crore in the previous year, and total revenue was also higher at Rs 43,041 crore, up 35.8% from Rs 31,686 crore in the previous year.

During Q4 FY23, APL’s average consolidated Plant Load Factor (PLF) was 52%, while aggregate sales volumes were 14.25 billion units, compared to an average consolidated PLF of 52.1% and sales volume of 13.15 BU in the same period the previous year. APL’s power offtake under long-term Power Purchase Agreements (PPAs) was constrained by high import coal prices, while the PLF of open capacities was affected by domestic coal-related constraints.

In addition, APL announced that six of its operating subsidiaries, including 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, following the approval of the Scheme of Amalgamation by NCLT and the fulfilment of the conditions precedent thereto.

According to Adani Group Chairman Gautam Adani, India’s increasing demand for world-class infrastructure facilities is acting as the springboard for the next phase of the country’s economic growth, and as the nation’s foremost infrastructure conglomerate, Adani Group is fully committed to meeting it in a sustainable and dependable manner.