Adani Power Ltd Posts Rs 13.13 Crore Net Profit in Q4 2021 Results

May 7, 2021 02:13 PM ET
  • Adani Power Limited (APL), the power service subsidiary of Indian conglomerate Adani Group, yesterday tape-recorded a combined internet profit of Rs 13.13 crore in the March 2021 quarter, in contrast to, a BSE filing revealed, a combined bottom line of Rs 1,312.86 crore in the quarter ended March 31, 2020. The reason for the enjoyable result owes to higher earnings earned in the most recent quarter.

Total income of the firm rose to Rs 6,902.01 crore in the quarter from Rs 6,327.57 crore in the very same duration a year ago. For the entire fiscal year (2020-21), the firm's combined web earnings stood at Rs 1,269.98 crore. It had reported a loss of Rs 2,274.77 crore in 2019-20. Total income in 2020-21 can be found in at Rs 28,149,68 crore as contrasted to Rs 27,841.81 crore in 2019-20. Throughout fourth quarter of 2020-21, Adani Power, in addition to the nuclear power plant of its subsidiaries achieved an Average Plant Load Factor (PLF or capability exercise) of 59.6 pe cent, and also accumulation sales volumes of 14.8 Billion Systems (BU). In comparison, during the 4th quarter of 2019-20, Adani Power as well as its subsidiaries accomplished an average PLF of 65.5 percent and also sales volume of 16.5 BU.

The business clarified that its operating performance was influenced because of reduced vendor sales and also grid backdown in numerous plants, along with get, closure at Udupi because of greater infiltration of renewables. It likewise stated that the decrease in PLF was countered partly by greater vendor sales at Raipur and also Raigarh, as well as greater grid demand at Kawai. Gautam Adani, Chairman, Adani Group provided a declaration, claiming, "India is dealing with a restored obstacle in the form of an unexpected rise of the Covid-19 pandemic. The Adani Group stands shoulder-to-shoulder with the nation in facing as well as surmounting this obstacle. We are expending all initiatives to assist India recuperate quickly and also resume on its path to progress and success for all. The Adani Group continues to be dedicated to sustainable growth of energy facilities and also ending up being a crucial factor to the nation's financial progression."

The Adani Group's commitment towards increasing the share of tidy energy in the Indian power mix is mirrored in the many renewable energy projects it has been revealing throughout the country in recent time. This year's news consist of Adani Solar Energy Chitrakoot One Limited (ASECOL) commissioning a 50 MW solar power plant in Chitrakoot, UP, and Adani Green Energy increasing USD 1.35 billion to originally fund a 1.69 GW portfolio of solar and also wind projects in Rajasthan, and appointing a 100 MW wind power plant in Kutch, Gujarat, among a number of others. The latter also uploaded 136% boost in money profit for FY21. Adani Power is the biggest exclusive thermal power manufacturer in India, having a set up thermal power ability of 12,410 MW spread across 6 nuclear power plant in Gujarat, Maharashtra, Karnataka, Rajasthan as well as Chhattisgarh, aside from a 40 MW solar energy plant in Gujarat.

Anil Sardana, Managing Director, Adani Power, said, "As India's biggest economic sector power manufacturer, Adani Power Ltd. is committed to meeting the need for dependable as well as cost-effective electrical power for diverse needs, from ranches to metro railways, factories to healthcare facilities, as well as malls to houses. We have taken a promise to offer our clients with continuous supply of power, while guaranteeing that safety measures to curb the spread of Covid-19 pandemic are followed purely in all our facilities."

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