Companies

Adani Power reports Q1 standalone net loss at ₹49 crore

Our Bureau Ahmedabad | Updated on August 06, 2020 Published on August 06, 2020

Company recorded 51% PLF as against 78% in same quarter last year

Adani Group's power arm, Adani Power Limited registered a standalone net loss of ₹49 crore for the first quarter ended June 2020 as compared to the net loss of ₹1,118 crore recorded in the corresponding quarter last year.

Company's standalone revenues from operations for the quarter stood at ₹27 crore as against ₹32 crore in the same quarter last year.

APL stated that its total comprehensive loss after tax for the quarter widened to ₹705 crore as compared to a total comprehensive loss of ₹266 crore for the corresponding quarter of the previous year.

Consolidated total revenue stood at ₹5,356 crore (₹8,015 crore).

APL informed that the average Plant Load Factor (PLF) achieved during the first quarter was 51 per cent, which was 78 per cent in corresponding period last year.

"The PLF is lower due to the decline in power demand following the announcement of a nationwide lockdown to combat Covid-19. Consolidated Units sold for the quarter are 12.7 billion units (BU), as compared to the first quarter of last fiscal sales volume of 16.5 BU," APL said in a statement.

Anil Sardana, MD, Adani Power, said, "As we continue to seize opportunities of value creation in a challenging market and a fast-changing competitive landscape, we are focusing on operational excellence and sustainability, while taking long term decisions to enhance our strategic capability and resource flexibility."

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Published on August 06, 2020
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