+
Adani Power records loss of Rs 230 crore in Q2 FY22
POWER & RENEWABLE ENERGY

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

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

Related Stories

Gold Stories

Next Story
Infrastructure Urban

India’s Global CE Connect

India’s construction equipment industry is entering a phase where scale is increasingly being matched by productivity, technology, localisation and lifecycle economics. Against this backdrop, bauma ConExpo India 2026, scheduled for September 15-18 at the India Expo Centre, Greater Noida, will bring the global and Indian construction machinery ecosystem together.The eighth edition is expected to be the largest yet, with the exhibition sold out across around 1.45 million sq ft. More than 1,100 exhibitors from over 100 countries are expected to participate, with visitor numbers projected to exc..

Next Story
Real Estate

Orris, Godrej Properties Settle Dispute Over Gurugram Project

Orris Infrastructure and Godrej Properties Limited have reached an amicable settlement over matters related to the jointly developed Godrej Air project in Gurugram, bringing an end to the dispute between the two companies.The Bombay High Court, while hearing a petition filed by Orris Infrastructure, ordered the immediate and unconditional release of Orris Managing Director Amit Gupta on August 25, 2026, after being informed about the settlement agreement between the parties.A single-judge bench led by Justice Milind N. Jadhav noted that in view of the settlement agreement signed by both compan..

Next Story
Infrastructure Urban

Panasonic Launches Second Cycle of Startup Co-Creation Programme

Panasonic Life Solutions India (PLSIND), through its IGNITION Open Innovation platform, has announced the second cycle of Co.lab Studio, a startup collaboration initiative focused on developing scalable digital services and solutions.The new cycle will focus on Safety & Security and Daily Living solutions for communities by leveraging Panasonic’s AI and IoT-enabled connected living platform, MirAIe. The programme aims to help startups move from innovation concepts to pilot deployments, platform integrations and commercialisation-ready solutions.The first cycle of Co.lab Studio received 1..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code