Adani Power Q2 Results: Revenue Grows 20% YoY To Rs 28,517 Crore

Robust continuing EBITDA growth of 38.3 per cent in H1FY25 as compared to H1FY24 on account of a moderation in fuel costs

Adani Power board has approved the raising of funds by way of secured, rated, listed, redeemable, non-convertible debentures amounting up to Rs 5,000 crore.

Source : Adani Power Ltd

Adani Power Ltd, a part of Adani portfolio companies, has announced the financial results for the second quarter ended 30th September 2024. Revenues for H1 and Q2 FY25 include the contribution of MPGL and KPL for the month of September 2024 post-acquisition. The revenues of ADTPS have not been included as it was acquired on September 30, 2024.

Continuing operating revenue growth in H1FY25 moderated to 19.1 per cent in comparison to volume growth due to lower blended tariff realisation following a reduction in imported coal prices. Continuing operating revenue growth for Q2FY25 also moderated to 9.1 per cent for similar reasons.

Robust continuing EBITDA growth of 38.3 per cent in H1FY25 as compared to H1FY24 on account of a moderation in fuel costs along with a reduction in operating expenses and positive operating leverage due to higher volumes. Similarly, continuing EBITDA growth of 24.6 per cent in Q2 FY25 as compared to Q2FY24 was on account of lower fuel and operating expenses, and positive operating leverage.

S B Khyalia, CEO, Adani Power Limited, said, "Adani Power has embarked on the next phase of its growth journey, swiftly achieving capacity expansion milestones and securing power supply agreements to ensure long-term revenue stability. The company consistently delivers robust operating and financial performance by leveraging its inherent strengths and competitive advantages. Its diverse capabilities and financial resilience provide a solid foundation for growth, enabling it to realise its vision of supporting India's economic development with reliable, sustainable, and affordable power supplies. Additionally, we are committed to rapidly turning around our recently acquired stressed power plants by utilizing our core competencies and strengths."

Power demand was flat during Q2 FY25 as compared to the corresponding quarter of FY24. This was primarily due to climatic conditions such as a delayed but prolonged rain spell affecting demand. Nevertheless, cumulative demand for FY24-25 till 30th September 2024 was robust with a growth of 5 per cent over the first half of FY 2023-24.  Growing peak demand has also improved power offtake from the thermal power sector to ensure uninterrupted power supply during the hours of low renewable energy generation.

APL has achieved operating generation capacity of 17,550 MW as on 30th September 2024 with the addition of 2,300 MW operating capacities, comprising: 2x250 MW (500 MW) Adani Dahanu Thermal Power Station, acquired under a Business Transfer Agreement on 30th September 2024.

The board of directors has approved the raising of funds by way of secured, rated, listed, redeemable, non-convertible debentures amounting up to Rs 5,000 crore, comprising up to Rs 2,500 crore by way of public issue and up to Rs 2,500 crore by way of private placement, in one or more tranches.

The board has delegated the powers to the management committee to, among other things, approve, implement and carry out activities in connection with the issue. Consolidated power sale volume at 21.9 BU (billion units) in Q2 FY25 was up by 21 per cent from 18.1 BU in Q2 FY24, due to improved power demand and higher operating capacity.