Adani Power Q2 results: Profit zooms 8-fold to Rs 6,594 crore YoY; stock up 8%
Adani Power Q2 results: The consolidated net profit in the September quarter came at Rs 6,594 crore, up 847.41 per cent from Rs 696 crore in the year-ago period.
- Nov 2, 2023,
- Updated Nov 2, 2023 2:38 PM IST
Adani Power Ltd on Thursday posted a stellar set of numbers for the second-quarter of the ongoing financial year 2023-24 (Q2 FY24). The company's consolidated net profit in the September quarter came at Rs 6,594 crore, up 847.41 per cent from Rs 696 crore in the year-ago period.
Revenue from operations in Q2 FY24 rose to Rs 12,991 crore, an 84.43 per cent jump from Rs 7,044 crore in the corresponding period last year.
The company said EBITDA (Earnings before interest, taxes, depreciation, and amortization) for Q2 FY24 stood 202 per cent higher at Rs 4,336 crore, as compared to Rs 1,438 crore in Q2 FY23, mainly on account of lower fuel cost, higher merchant tariffs, and inclusion of the Godda power plant.
Although, depreciation charge for Q2 FY24 increased to Rs 1,004 crore from Rs 833 crore in Q2 FY23 due to the commissioning of the Godda plant.
Finance costs for Q2 FY24 increased to Rs 888 crore from Rs. 818 Crore in the same period last year, mainly due to borrowing cost for the Godda plant.
SB Khyalia, CEO of 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 stable, reliable, and affordable power supply in a sustainable manner."
During Q2 FY24, the company and its subsidiaries achieved an average Plant Load Factor (PLF) 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 billion units in Q2 FY23.
The stock was last seen trading 7.71 per cent higher at Rs 393.15.
Also read: Adani Power shares in focus ahead of Q2 results, Lanco report
Also read: Hot stocks on November 2: Vodafone Idea, Suzlon Energy, Adani Power, Power Finance Corp and more
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Adani Power Ltd on Thursday posted a stellar set of numbers for the second-quarter of the ongoing financial year 2023-24 (Q2 FY24). The company's consolidated net profit in the September quarter came at Rs 6,594 crore, up 847.41 per cent from Rs 696 crore in the year-ago period.
Revenue from operations in Q2 FY24 rose to Rs 12,991 crore, an 84.43 per cent jump from Rs 7,044 crore in the corresponding period last year.
The company said EBITDA (Earnings before interest, taxes, depreciation, and amortization) for Q2 FY24 stood 202 per cent higher at Rs 4,336 crore, as compared to Rs 1,438 crore in Q2 FY23, mainly on account of lower fuel cost, higher merchant tariffs, and inclusion of the Godda power plant.
Although, depreciation charge for Q2 FY24 increased to Rs 1,004 crore from Rs 833 crore in Q2 FY23 due to the commissioning of the Godda plant.
Finance costs for Q2 FY24 increased to Rs 888 crore from Rs. 818 Crore in the same period last year, mainly due to borrowing cost for the Godda plant.
SB Khyalia, CEO of 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 stable, reliable, and affordable power supply in a sustainable manner."
During Q2 FY24, the company and its subsidiaries achieved an average Plant Load Factor (PLF) 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 billion units in Q2 FY23.
The stock was last seen trading 7.71 per cent higher at Rs 393.15.
Also read: Adani Power shares in focus ahead of Q2 results, Lanco report
Also read: Hot stocks on November 2: Vodafone Idea, Suzlon Energy, Adani Power, Power Finance Corp and more
Also read: Samvat 2080: 2,900% jump since last Diwali! Here is what analysts foresee in the next year