Adani Group’s company Adani Power Limited has declared the results for the second quarter (July-September) of the financial year 2023-24. The company’s net profit in Q2FY24 increased by 848% year-on-year (YoY) to Rs 6,594 crore. This includes a one-time gain of Rs 1,371 crore in the form of tax credit. The company had registered a net profit of Rs 696 crore in the same quarter last year.
Adani Power revenue
The company’s revenue from operations increased by 84.42% to Rs 12,990.58 crore in Q2. In the same period of the last financial year, it was Rs 7,043.77 crore. The company said this includes one-time prior period items worth Rs 1,125 crore due to domestic coal shortage.
EBITDA increased 202%
Adani Power’s operating profit (EBITDA) increased 202% year-on-year to Rs 4,336 crore in the September quarter. It was Rs 1,438 crore in the same quarter last year. The firm also reported other income of Rs 1,945 crore for the September quarter, which included one-time prior period items of Rs 1,656 crore in the form of carrying costs and late payment surcharge.
Adani Power Limited is a part of the Adani Group and is one of India’s largest private thermal power producers. The company is involved in electricity generation, transmission, and distribution.
Adani Power Limited is headquartered in Ahmedabad, Gujarat, India.
Adani Power has a generation capacity of 15,250 MW.
Adani Power’s total assets, as reported in its September 2023 financial statements, amount to $10.80 billion.