Adani Power Ltd (APL) on Thursday posted an 83.3 per cent jump in its consolidated net profit to Rs 8,759.42 crore for the April-June quarter on account of higher income. It had reported a net profit of Rs 4,779.86 crore in the April-June period of the preceding 2022-23 fiscal, the company said in a BSE filing.
The company’s total income surged to Rs 18,109.01 crore from Rs 15,509 crore in the year-ago quarter. Expenses were at Rs 9,309.39 crore in the quarter under review against Rs 9,642.80 crore a year ago. In a separate statement, the company said consolidated EBITDA of the company during the first quarter was at Rs 10,618 crore, 41.5 per cent higher compared to Rs 7,506 crore in the year-ago period.
APL achieved an average plant load factor (PLF) of 60.1 per cent in the quarter compared to 58.6 per cent a year ago. The sales were at 17.5 billion units (BU) from an installed capacity of 15,250 MW in April-June 2023 over the sales volume of 16.3 BU on an installed capacity of 13,650 MW in April-June 2022.
Incremental generation capacity of the 1,600 MW Godda Ultra-supercritical thermal power plant (USCTPP) in Jharkhand contributed to the increase in sales volumes for the first quarter of FY 2023-24. S B Khyalia, the CEO of Adani Power Ltd, said, “Adani Power has increased its lead among IPPs (independent power producers) with commissioning of the 1,600 MW Godda USCTPP and entered a new era of transnational power sales. We are proud to support Bangladesh in enhancing the means available to its high-potential economy for fulfilling aspirations of its hard-working and enterprising population.”
APL started exporting power to Bangladesh from its 1,600 MW power project on April 10, 2023. The Godda plant will supply 1,496 MW under the power purchase agreement (PPA) signed with the Bangladesh Power Development Board for a period of 25 years via a 400 kV dedicated transmission system connected to the Bangladesh grid. The PPA was executed in November 2017. On April 6, the first unit of 800 MW capacity of the Godda plant in Jharkhand began commercial operations. The second unit, also of 800 MW capacity, followed on June 26.
Part of the diversified Adani Group, Adani Power (APL) is the largest private thermal power producer in India. The company has an installed thermal power capacity of 15,250 MW spread across eight power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand, apart from a 40 MW solar power plant in Gujarat.
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