Finance Update Uncategorized

Adani Power posts Q3 FY19 net loss of Rs. 1,181 crore

  • Net loss of Rs. 1,181 crore versus Net loss of Rs. 1,303 (y-o-y).
  • Revenue rose by 31.7% y-o-y to Rs. 6,380.3 crore from Rs. 4,845 crore.
  • EBITDA rose by 54.3% y-o-y to Rs. 1,086 crore from Rs. 704 crore.

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Economictimes: Adani Power limits Q3 net loss at Rs 1,181 crore

Revenue from operations increased 31.70 per cent to Rs 6,380.33 crore during the quarter under review.

Adani Power on Wednesday reported a net loss of Rs 1,180.78 crore for the quarter ended December 31 on a year on year basis.

This compared with net loss of Rs 1,313.74 crore in the same quarter last year and total expenditure increased to Rs 7,507.61 crore in Q3 FY19 from Rs 6,223.58 crore in Q3 FY18.

Revenue from operations increased 31.70 per cent to Rs 6,380.33 crore during the quarter under review, from Rs 4,844.46 crore in the same period last year.

Consolidated Ebitda grew by 77 per cent to Rs 1,372 crore from Rs 777 crore in Q3 FY18, driven by higher revenues and lower administrative costs. Finance costs stood at Rs 1,531 crore in October-December compared with Rs 1,411 crore in the previous year.

Gautam Adani, Chairman, Adani Group, said, “We are witnessing rapid progress in the resolution of regulatory issues that have affected cash flows of our projects in the past. We hope to see timely approval of supplementary PPAs by the CERC, which will help the Mundra power plant to operate sustainably. We have also received a substantial amount of compensatory payments… We continue to see a long term growth potential in the thermal power sector, which is bolstered by robust economic growth and the government’s fruitful efforts in addressing the challenges faced by the sector.”

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