Adani Power, which houses the Gautam Adani group’s thermal and renewable energy generation, reported net profit of ₹635 crore for the March quarter, as opposed to the loss of ₹653 crore that it reported in the previous year. For FY19, net loss stood at ₹984.4 crore, much lower than the ₹2,073.77 crore it reported in FY18.
Average plant load factor (PLF) more than doubled to 79% in Q4FY19, as against 37% in Q4FY18 while units sold during Q4FY19 more than doubled to 16.6 billion units from 7.9 billion units in previous year. Consolidated total income stood at ₹8,078 crore for the quarter as compared to ₹4,161 crore in Q4FY18, an increase of 94%, while consolidated EBIDTA for Q4FY19 was at ₹1,964 crore as against ₹1,414 crore in Q4FY18, an increase of 39%.
Gautam Adani, Chairman, Adani Group, said in a statement: “Recent months have seen a veritable transformation in India’s electricity sector regulation, which will go a long way in restoring the financial robustness of private sector power plants, and supporting economic growth through reliable and affordable power supply to the end consumers. The Adani Group, with its established Pit-to-Plug presence, is confident of leveraging its strengths to achieve its long term goals, and contributing significantly to nation building."