Adani Power records loss of Rs 230 crore in Q2 FY22

Adani Power noted a consolidated net loss of Rs 230.60 crore in the second quarter of 2021, owing to lower revenues. According to a BSE filing, the company's consolidated net profit for the quarter ended September 30, 2020, was Rs 2,228.05 crore. In the third quarter, the company's total income was Rs 5,571,76 crore, down from Rs 8,792,28 crore a year earlier. Higher one-time revenue recognition of Rs 3,233 crore was recorded in the second quarter of the previous year as a result of various regulatory orders. Higher grid demand in Maharashtra, India's most industrialised state, improved capacity utilisation at the Tiroda plant. The Raipur and Raigarh plants, meanwhile, were able to achieve higher volumes in the merchant and short-term markets, according to the company. However, lower Adani Power capacity utilisation at Mundra due to high import coal prices and low grid demand at Udupi due to higher renewable energy penetration resulted in higher Plant Load Factor (PLF) in other plants, which was offset by higher Plant Load Factor (PLF) in other plants. As a result, APL achieved a consolidated average PLF or capacity utilisation of 48.7% and sales volume of 12.3 Billion Units (BU) in the second quarter of FY 2021-22, compared to a PLF of 49.9% and sales volume of 12.6 BU in the second quarter of FY 2020-21. APL and its subsidiaries achieved an average PLF of 56.7% and sales volume of 28.5 BU in the six months ended September 30, compared to a PLF of 50.4% and sales volume of 25.3 BU in the year-ago period. Apart from a 40-MW solar power plant in Gujarat, the company has a total installed thermal power capacity of 12,410 megawatts (MW) spread across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, and Chhattisgarh. Adani Power is on track to meet its growth potential thanks to a world-class team of experts in every field of power. Image Source Also read: Adani Power bags Essar Power's 1,200 MW Mahan Project