Adani Power Ltd posted a consolidated net profit of Rs 278.22 crore in the June 2021 quarter, mainly on the back of higher revenues.
The company had reported a consolidated net loss of Rs 682.46 crore in the quarter ended on June 30, 2020.
Total Income
The total comprehensive income for Q1FY22 was Rs 270 crore, compared to comprehensive loss of Rs 705 crore for Q1FY22.
Power Units sold
Consolidated units (power) sold for Q1 FY’22 were 16.2 billion units (BU), as compared to the Q1 FY’21 sales volume of 12.7 BU.
Company’s Statment
“Electricity demand in the country has recovered smartly after the slump witnessed during the Covid-19 lockdown in Q1 FY21.
Resumption of normal economic activity, coupled with inherent demand drivers has propelled the aggregate electricity demand to 341 BU in Q1FY22, which is 16 per cent higher than demand of 293 BU during Q1 FY21.”
Increase in Plant Load Factor
The company’s power generation units had an average Plant Load Factor (PLF) of 65 per cent and it was 51 per cent in same quarter last year.
It said that rise in PLF was a result of improved power demand in various States apart from better tariffs and volumes in the merchant and short-term markets.
Comment from MD
Anil Sardana, “Our experience and excellence in various arenas, from plant operations and maintenance to fuel management, coupled with our locational advantage have helped us outperform the sector consistently.
As we move closer to acquiring and turning around the fourth power asset, we are focusing on various excellence initiatives to enhance safety, reliability, predictability, and profitability of our entire portfolio.”
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