Adani Power Q2 Result: Revenue Grows To Rs 12,155 Crore, Up 61 Per Cent YoY

EBITDA for Q2 stood 202 per cent higher at Rs 4,336 crore, as compared to Rs 1,438 crore in Q2 FY22-23, mainly on account of lower fuel cost, higher merchant tariffs, and inclusion of the Godda plant

Adani Power Ltd, a part of Adani Group, on Thursday announced the financial results for the second quarter (Q2) ended September 30. The company and its subsidiaries achieved an average Plant Load Factor of 58.3 per cent and power sales volume of 18.1 Billion Units, as compared to PLF of 39.2 per cent and power sales volume of 11 BU in Q2 FY22-23.

The operating performance for Q2 includes the 1,600 MW Godda Ultra-supercritical thermal power plant of APL’s subsidiary Adani Power (Jharkhand) Limited (APJL), which was commissioned in Q1FY23-24. During the quarter, performance improved due to higher power offtake in Mundra, Udupi, Raipur, and Mahan plants apart from the incremental contribution of Godda, which has ramped up its operations satisfactorily in a short time after commissioning.

Adani Power’s consolidated continuing total revenue for Q2 FY23-24 stood 61 per cent higher at Rs 12,155 crore, as compared to Rs 7,534 crore in Q2 FY22-23. This increase in revenue was a result of greater sales volumes including the contribution of the Godda power plant and higher merchant sales. 

APL logged an operating revenue of Rs 12,991 crore includes one-time prior period items of Rs 1,125 crore on account of domestic coal shortfall, while reported other income of Rs 1,945 crore for the quarter includes one-time prior period items of Rs 1,656 crore in the form of carrying cost and late payment surcharge.  In comparison, the reported revenue for Q2 of the previous year included one-time prior period items of Rs 912 crore. Consolidated total revenue for the first half of FY23-24 stood 26 per cent higher at Rs 23,767 crore, as compared to Rs 18,831 crore in H1 FY22-23, on back of greater sales volume, including contribution of the Godda plant and higher merchant sales. 

EBITDA for Q2 FY23-24 stood 202 per cent higher at Rs 4,336 crore, as compared to Rs 1,438 crore in Q2 FY22-23, mainly on account of lower fuel cost, higher merchant tariffs, and inclusion of the Godda power plant. The consolidated Profit After Tax for Q2 FY23-24 was 848 per cent higher at Rs 6,594 crore, after recognition of deferred tax assets of Rs 1,371 crore, as compared to Rs 696 crore for Q2 FY22-23.

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.”