Team Blitz India
NEW DELHI: Adani Power on November 2 said its consolidated net profit for the quarter ended September 20, 2023 was Rs 6,594 crore, up 848 percent from Rs 696 crore. This includes one time gain of Rs 1,371 crore as tax credit.
Its revenue from operations came in at Rs 12,990.58 crore, up 84.42 percent from Rs 7,043.77 crore in the same quarter last year. The company said it includes one-time prior period items of Rs 1,125 crore on account of domestic coal shortfall.
“This increase in revenue was a result of greater sales volumes including the contribution of the Godda power plant and higher merchant sales. Lower import coal prices helped in higher offtake of power under import coal-based Power Purchase Agreements (PPAs) of Mundra and Udupi plants. Tariffs under these PPAs are determined according to approved regulatory processes and track international coal prices,” Adani Power said.
The firm also reported other income of Rs 1,945 crore for the quarter that includes one-time prior period items of Rs 1,656 crore in the form of carrying cost and late payment surcharge.
