Adani Power Q1 Results: Revenue Grows 30% YoY to Rs 15,052 Crore

Adani Power's operating revenue growth was tempered in comparison to volume growth in Q1 FY24-25 due to lower tariff realisation on account of reduction in import coal prices

Adani Power's consolidated power sale volume was at 24.1 billion units in Q1 FY25, up by 38 per cent from 17.5 BU in Q1 FY24 due to improved power demand and larger effective operating capacity.

Source : Adani Power Ltd

Adani Power Ltd, a part of Adani portfolio companies, on Wednesday announced the financial results for the first quarter (Q1) ended June 30, 2024. APL has now transitioned to an era of greater regulatory certainty after satisfactory resolution of all major regulatory matters and recovery of regulatory dues during FY23-24.

Consequently, prior period revenue recognition on account of regulatory orders has come down significantly. The company's reported revenues of Rs 15,474 crore for Q1 FY24-25 include prior period items of Rs 422 crore pertaining to regulatory matters, as compared to prior period items of this nature of Rs 6,497 crore forming part of Q1 FY23-24 reported revenues of Rs 18,109 crore.

Operating revenue growth was tempered in comparison to volume growth in Q1 FY24-25 due to lower tariff realisation on account of reduction in import coal prices.

In Q1 FY24-25, continuing EBITDA a strong growth of 53 per cent to Rs 6,290 crore as compared to Rs 4,121 crore for Q1 FY23-24 mainly due to higher merchant contribution, lower import fuel prices, and increase in fixed charges after full commissioning of the Godda plant.

S B Khyalia, CEO, Adani Power Limited, said, "As Adani Power grows from strength to strength, we have undertaken advance development activities to secure execution pipelines for three ultra-supercritical projects of 1,600 MW each to prepare ourselves for the anticipated resurgence in the thermal power sector. Our strategic focus is to derisk our growth plans by utilising high efficiency, low emission technologies, pooling our deep experience and multi-domain expertise for project development, securing access to fuel resources, and revitalising the organisation to become more agile and competitive in the digitalised world."

Consolidated power sale volume was at 24.1 billion units in the first quarter of FY25, up by 38 per cent from 17.5 BU in Q1 FY24 due to improved power demand and larger effective operating capacity.

Power demand is continuing to exhibit strong growth across India, with aggregate power demand in the first quarter growing at 10.6 per cent year-on-year and peak demand growing at 12 per cent to reaching a record level of 250 GW. This positive environment for the power sector has resulted in higher offtake from APL’s power plants from both contracted capacities and open capacities.

During Q1 FY24-25, higher volumes were contributed by almost all plants led by Mundra and Mahan in addition to Godda, the second 800 MW unit of which was commissioned on June 26, 2023. Domestic power sales volumes continued to be driven by growing power demand, and offtake under Power Purchase Agreements was further supported by falling prices of imported coal.