Adani Group’s power arm, Adani Power Limited, posted a standalone net loss of ₹52 crore for the quarter ended September 30 — up by 10 per cent from the net loss of ₹57 crore in the corresponding quarter a year ago. The company’s revenues from operations increased to ₹73 crore, up 300 per cent from ₹18 crore in the same quarter last year. However, other income increased from ₹114 crore to ₹256 crore for the quarter under review. Expenses for the quarter jumped on the back of higher finance cost. Total expenses increased by 101 per cent to ₹380 crore for the quarter from ₹189 crore in the same quarter last year. The finance cost increased from ₹168 crore to ₹307 crore. The company, however, informed that on consolidated basis, total revenue for the quarter under review jumped by 52 per cent to ₹8,446 crore against ₹5,572 crore in the corresponding quarter last year on account of improved tariff realisation and higher one-time income by ₹771 crore. “Consolidated EBITDA for Q2 FY23 was higher by 51 per cent at ₹ 2,350 crore vs ₹ 1,551 crore for Q2 FY22; due to higher one-time revenue,” the company informed. The consolidated Profit After Tax for the quarter stood at ₹696 crore against the net loss of ₹231 crore in the same quarter last year, primarily due to higher one-time income. A statement from APL said, “During the second quarter of 2022-23, APL and its subsidiaries achieved an average Plant Load Factor (PLF) of 39.2 per cent and power sale volume of 11 Billion Units (BU) compared to PLF of 48.7 per cent and power sale volume of 12.4 BU in the comparable period last year.” “The operating performance for Q2 FY23 includes the 1,200-MW power plant of Mahan Energen Ltd, which was acquired in March. During the quarter, performance was affected by high import coal prices leading to grid back downs and Reserve Shutdowns at Mundra and Udupi. Volumes were constrained at other plants due to challenges in fuel availability despite higher power demand,” it said. Anil Sardana, Managing Director, Adani Power Limited, said, “Adani Power, is positioned ideally to support India’s growing energy needs and provide stable, reliable and affordable power supply, while ensuring the betterment of communities around it. We will continue to seize value accretive opportunities and pursue our long-term growth strategies to leverage our complementarity with the Adani Group’s energy portfolio and partnerships in natural gas and solar energy.” APL shares ended negative at ₹360.10 — down nearly 3 per cent on the BSE on Friday.