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Adani Power on Monday posted a 77 per cent jump in profit after tax to Rs 174 crore for the three months ended March 31, helped by higher revenues from increased power generation capacity. The entity had reported a profit after tax of Rs 98 crore for the same period a year ago.
Revenues in the March quarter soared to Rs 856 crore from Rs 201 crore in the year-ago period. “The growth in revenue is largely due to the addition of 1,320 MW power generation capacity in FY’11, taking the total power generation capacity of Adani Power to 1,980 MW,” the firm said in a regulatory filing.
Currently, Adani Power is implementing 16,500 MW of power generation projects across seven locations in India.
“With such a robust financial performance, we are confident of meeting our target of generating 20,000 MW by 2020,” Adani Power Chairman Mr Gautam Adani said.
The company’s profit after tax climbed to Rs 524 crore for the 2010-11 fiscal year from Rs 171 crore in the same period a year ago.
It raked in revenues to the tune of Rs 2,106 crore for the year ended March 31, 2011, much higher than the Rs 435 crore figure for the previous fiscal. Adani Power’s gross generated units stood at 7.6 billion in FY’11, compared to 1.4 billion in FY’10. “Units sold during the year stand at 6.8 billion, as compared to 1.2 billion in FY’10,” the filing said.
Shares of the company rose 2.37 per cent to Rs 110.35 in late afternoon trade on the Bombay Stock Exchange today.
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