Adani Power Consolidated EBIDTA Rs 1633 crore in Q1FY16
- Consolidated Total Income for Q1FY16 increased by 13% to Rs 5,914 crore Vs Rs 5,225 crore in Q1FY15
- Consolidated EBIDTA for Q1FY16 at Rs 1,633 crore Vs Rs 1,691 crore in Q1FY15
- Depreciation charged during Q1FY16 is Rs 557 crores and is not comparable as the company had given the impact of Schedule-II of the Companies Act, 2013 in Q4FY15
- The Company sold 15.87 billion units in Q1FY16 Vs 13.43 billion units in Q1FY15
- Udupi Power Corporation Limited (UPCL) has become wholly owned subsidiary of Adani Power Limited during the quarter
- UPCL contributed Rs 225 crores to EBIDTA during the quarter and results were consolidated from 21st April, 2015
Ahmedabad, August 10, 2015: Adani Power Ltd, a part of Adani Group, today announced the financial results for the first quarter ended June 30, 2015.
Consolidated total income for the quarter increased by 13% to Rs 5,914 crore compared to Rs 5,225 crore in the corresponding period in previous year. Revenue during the quarter increased due to improved PLF and additional revenue of Rs 569 crores contributed by UPCL. The consolidated EBIDTA remained at Rs 1,633 crore in Q1FY16 as compared to Rs 1,691 crore in Q1FY15 due to higher compensatory tariff recognized and impact of demerger of Transmission business in the previous quarter. The consolidated net loss remained at Rs 418 crore.
Commenting on the quarterly results of the Company Mr. Gautam Adani, Chairman, Adani Power said, “The Power sector continues to remain focal point of the government for overall economic growth of the country. With the completion of acquisition of Udupi Power Corporation Limited the group establishes its strategic presence in southern India and continues to maintain its leadership position as India’s largest private sector power producer.”
Mr. Vneet Jaain, Chief Executive Officer, Adani Power, said, “Our overall result reflects improved power generation from the total installed capacity of 10480 MW and includes contribution from Udupi Power Corporation Limited acquired during the quarter. UPCL acquisition has been EBITDA accretive from day one and we expect better contribution from UPCL in the ensuing quarters. The recent impetus given by the government for increased domestic coal production will improve the financial performance in the ensuing quarters.”