Ahmedabad, July 31 (SocialNews.XYZ) Adani Power reported on Wednesday that its consolidated continuing profit before tax (PBT) grew 95 per cent to Rs 4,483 crore in the April-June quarter against Rs 2,303 crore in the same period last year due to higher reported EBITDA and lower finance cost.
The company said its consolidated power sale volume stood at 24.1 billion units (BU) in Q1 FY25, up by 38 per cent from 17.5 billion units in Q1 FY24 due to improved power demand and larger effective operating capacity.
“As Adani Power grows from strength to strength, we have undertaken advanced development activities to secure execution pipelines for three ultra-supercritical projects of 1,600 MW each to prepare ourselves for the anticipated resurgence in the thermal power sector,” said S.B. Khyalia, CEO, Adani Power.
The continuing revenue grew 30 per cent (year-on-year) to Rs 15,052 crore while continuing EBITDA went up 53 per cent to Rs 6,290 crore in the April-June quarter.
“Our strategic focus is to de-risk our growth plans by utilising high efficiency, low emission technologies, pooling our deep experience and multi-domain expertise for project development, securing access to fuel resources, and revitalising the organisation to become more agile and competitive in the digitalised world,” Khyalia noted.
Power demand is continuing to exhibit strong growth across India, with aggregate power demand in the first quarter growing at 10.6 per cent year-on-year and peak demand growing at 12 per cent to reach a record level of 250 GW.
During Q1 FY 2024-25, higher volumes were contributed by almost all plants led by Mundra and Mahan in addition to Godda, the second 800 MW unit of which was commissioned on June 26, 2023, said the company.
Its operating revenue growth was tempered in comparison to volume growth in Q1 FY25 due to lower tariff realisation on account of a reduction in import coal prices, it added.
The company has an installed thermal power capacity of 15,210 MW spread across eight power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand, apart from a 40 MW solar power plant in Gujarat.
Source: IANS
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