Adani Power’s Q4 profit trips 71.7% to `715 cr
Adani Power on Monday reported 71.72 per cent plunge in consolidated net profit for the quarter ended March 31, 2015, to Rs 715.05 crore due to decline in sales. The company had reported a net profit of Rs 2,528.55 crore in the corresponding quarter last fiscal. Total revenues for January-March quarter stood at Rs 4,667.56 crore against Rs 5,996.49 crore in the year-ago period, the company said in a statement.
During the quarter, the company reported an exceptional income of Rs 657.56 crore mainly due to gain arising as a result of demerger of transmission business and subsequent stake sale of transmission business to Adani Transmission. For year 2014-15, the company’s consolidated net loss widened to Rs 815.63 crore, from Rs 290.55 crore in 2013-14. Total revenues increased 24 per cent to Rs 19,544.94 crore in 2014-15 compared to Rs 15,768.08 crore in 2013-14.
“Revenue during the year increased because of higher effective operational capacity of 8,891 MW as compared to 7,182 MW in the corresponding previous year,” Adani Power Chairman Gautam Adani said. He further said the past year was momentous as Adani Power became the country’s largest private power producer and with the
completion of acquisition of Udupi power plant its installed capacity has increased to 10,440 MW.
“We remain committed to continue expanding towards the goal of achieving a generation capacity of 20,000 MW by 2020 to bridge the power deficit in the country,” he said. During the quarter, the company sold 12 billion units against 11.8 billion units in the last quarter of 2013-14, while it sold 50.7 billion units during 2014-15 as compared to 40.1 billion units in 2013-14.