Adani Power's Q1 revenue soars to Rs 147.17 Bn

02 Aug 2024 CW Team

Adani Power Ltd. (APL) reported a notable improvement in its financial performance for the first quarter ending June 30, 2024, with revenue from operations rising by 29% to Rs 147.17 billion, up from Rs 113.70 billion in the same period last year.

S B Khyalia, the CEO of Adani Power, mentioned that the company is preparing for a revival in the thermal power sector by advancing the development of three Ultra-supercritical projects, each with a capacity of 1,600 MW. Khyalia stated that Adani Power is committed to improving lives and ensuring India's energy security by addressing the need for sustainable, affordable, and reliable power.

The company's plant load factor improved significantly to 78.0% in Q1 FY25, up from 60.1% in Q1 FY24. The units sold during the quarter increased to 24.1 billion units from 17.5 billion units year-on-year. This rise in operational efficiency led to a 95% increase in continuing profit before tax, which climbed to Rs 44.83 billion from Rs 23.03 billion in Q1 FY24.

Adani Power also reported a continuing EBITDA of Rs 62.90 billion for the quarter, a 53% increase from Rs 41.21 billion in the same quarter last year. However, despite this strong performance, reported EBITDA and profit before tax experienced declines due to significant prior period items related to regulatory orders from the previous fiscal. The company remains focused on expanding its footprint and enhancing its generation capacity, in line with its long-term strategic goals within the Indian power sector.

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