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Adani Power has posted a standalone net loss of ₹426 crore for the third quarter ended December 31.
The Adani Group company’s losses have recovered to one of the lowest so far in the current fiscal from ₹919 crore and ₹910 crore in the June and September quarters, respectively.
In the corresponding December quarter previous year, it had registered a net loss of ₹507 crore.
Standalone total income for the quarter jumped 46 per cent to ₹2,664 crore compared with ₹1,829 crore in the corresponding period last year, the company said in a filing with the stock exchanges.
Adani Power shares fell 1.3 per cent to close at ₹33 on the BSE on Monday
Plant load factor The company’s financial results reflected an improved plant load factor (PLF) of 75 per cent compared with63 per cent achieved in the second quarter of this fiscal.
On a consolidated basis, the company posted a net loss of ₹545 crore on the total income of ₹4,240 crore for the quarter against the net loss of ₹619 crore on the total income of ₹1,928 crore a year ago.
Vinod Bhandawat, Chief Financial Officer, said: “The challenges of limited domestic coal availability and non-remunerative PPA prices continued to impact our financial performance.”
Increased capacity Commenting on the financial performance of the company, Gautam Adani, Chairman, Adani Power, said: “With the effective utilisation of increased capacity coupled with implementation of various Government initiatives, we are confident and committed to meet the demand-supply gap in electricity in India.”
APL expects to achieve thermal power generation capacities of 9240 MW by this year.
For the nine-month period of the current fiscal, Adani Power has posted a standalone net loss of ₹2,255 crore against ₹1,525 crore in the corresponding period of last fiscal. Total income, however, has increased 42 per cent for the period under review to ₹ 7,062 crore compared with ₹4,976 crore last year.
The nine-month consolidated net loss stood at ₹2,815 crore against ₹1,709 crore a year ago.
Total income for the nine months increased 97 per cent to ₹9,920 crore (₹5,035 crore).
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