Adani Power Q3 net up 50%

Adani Power Ltd's net profit increased by 50 per cent while its income went up by 115 per cent in the third quarter of 2010-11, ended December 31, 2010, compared with the corresponding period last fiscal, the company said here on Thursday.

While income from operations, largely due to the addition of 330 MW power generation capacity in the third quarter, stood at Rs 502.60 crore (Rs 233.59 crore), PAT was Rs 109.11 crore (Rs 72.49 crore).

The company's cash generation improved to Rs 221 crore (Rs 110 crore) signifying growth of 100 per cent on year-on-year basis.

With new power generating capacity, APL's total capacity increased to 1,320 MW at Mundra in the third quarter.

Furthermore, the company also sold 1,717.49 million units of electrical energy (605.59 million units).

Commenting on the results, Mr Gautam Adani, Chairman, APL, said the company is currently implementing 16,500 MW of power generation projects across seven locations in India and is well on its way to achieving the goals of 20,000 MW by 2020.