Q2FY24 Quarterly & H1FY24 Bi-Annual Result Announced for Adani Power Ltd.
Electric Utilities company Adani Power announced Q2FY24 & H1FY24 results: Consolidated power sale volume at 18.1 Billion Units (BU) in Q2FY24, up by 65% from 11 BU in Q2FY23 due to improved power demand and higher operating capacity. Consolidated continuing total revenue for Q2FY24 higher by 61% at Rs 12,155 crore vs Rs 7,534 crore in Q2FY23; mainly due to greater sales volumes. Consolidated continuing EBITDA for Q2FY24 higher by 202% at Rs 4,336 crore vs Rs 1,438 crore for Q2FY23; due to greater sales volumes, lower fuel cost, and higher merchant tariffs. Consolidated Profit After Tax for Q2FY24 was higher by 848% at Rs 6,594 crore vs Rs 696 crore for Q2FY23; due to improved EBITDA, higher one-time income, and recognition of deferred tax assets. Consolidated power sale volume at 35.6 BU in H1FY24, up by 30% from 27.3 BU in H1FY23 due to improved power demand and higher operating capacity. Consolidated continuing total revenues higher by 26% at Rs 23,767 crore in H1FY24 vs Rs 18,831 crore in H1FY23; due to greater sales volumes. Consolidated continuing EBITDA for H1FY24 higher by 79% at Rs 8,457 crore vs Rs 4,732 crore in H1FY23; due to greater volumes and lower fuel cost. Consolidated Profit After Tax for H1FY24 higher by 180% at Rs 15,354 crore vs Rs 5,475 crore in H1FY23; due to improved EBITDA, higher one-time income, and recognition of deferred tax asset. Commenting on the quarterly results, S B Khyalia, CEO, Adani Power, said, "Adani Power has now cemented its position as India’s most reliable and competitive power generator with stable cash flows and high creditworthiness flowing from a secure revenue stream and a strategically located and reliable fleet with lowest emissions per unit of generation. The Company’s proven capabilities are being supplemented with the deployment of digitalization, analytics, and cutting-edge technologies to provide a stable, reliable, and affordable power supply sustainably. As opportunities in the Indian power market grow, we stand geared to enhance our contribution as the leading private power producer and to meet the nation’s growing energy needs.” Result PDF02-11-2023
