Adani Power Consolidated Total Income rose 100% to Rs 3,108 crore in Q2FY14

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Editor’s Synopsis

  • Consolidated Total Income for H1FY14 increased by 83% to Rs 5,680 vs Rs 3,107  cr in H1FY13
  • Consolidated EBIDTA for H1FY14 increased by 229% to Rs 1,096 vs Rs 333 cr in H1FY13
  • Consolidated Net Loss for H1FY14 is Rs 2,270 cr
  • Consolidated Total Income for Q2FY14 increased by 100% to Rs 3,108 vs Rs 1,551 Cr in Q2FY13
  • Consolidated EBIDTA for Q2FY14 increased by 78% to Rs 672 vs Rs 378 cr in Q2FY13
  • Consolidated Net Loss for Q2FY14 is Rs 1,072 crore, which is due to MTM provision for rupee depreciation, non-cash items like depreciation, provision for deferred tax and higher import of coal due to limited availability of domestic coal
  • The Company sold 9.1 billion units during Q2 FY14 Vs 4.1 billion units in Q2 FY13
  • Adani Power Maharashtra signed an additional FSA with SECL of 0.33 MMT and Tapering linkage for Tiroda making total FSA for Tiroda Phase I & II of 5.4 MMT. The company currently has 11.8 MMT of FSA for Mundra and Tiroda Power Projects
  • Maharashtra Electricity Regulatory Commission (MERC) ordered to provide an interim relief to Adani Power Maharashtra by increasing the prevailing tariff by Rs 0.57/kwh

Ahmedabad, October 25, 2013: Adani Power Ltd, a subsidiary of Adani Enterprises Ltd and part of Adani Group, today announced the financial results for the second quarter ended September 30, 2013.

 

Consolidated total income for half year increased by 83% to Rs 5,680 crore compared to Rs 3,107 crore in the same period last year. The consolidated EBIDTA increased to Rs 1,096 crore compared to Rs 333 crore in the same period last year. The consolidated net loss is Rs 2,270 crore.

 

Consolidated total income for the quarter increased by 100% to Rs 3,108 crore compared to Rs 1,551 crore in the same period last year. The consolidated EBIDTA increased to Rs 672 crore compared to Rs 378 crore in the same period last year. The consolidated net loss is Rs 1,072 crore.

 

Standalone total income for half year increased by 40% to Rs 4,398 crore compared to Rs 3,147 crore in the same period last year. The standalone EBIDTA increased to Rs 916 crore as compared to Rs 434 crore in the same period last year. The standalone net loss is Rs 1,829 crore.

 

Standalone total income for the quarter increased by 38% to Rs 2,169 crore compared to Rs 1,568 crore in the same period last year. The standalone EBIDTA increased to Rs 494 crore as compared to Rs 439 crore in the same period last year. The standalone net loss is Rs 910 crore.

 

Commenting on the financial performance of the Company Mr. Gautam Adani, Chairman, Adani Power said, “With 7260 MW of operational capacity which would reach 9240 MW shortly, your company has implemented the largest thermal based power projects in 3 states on most competitive terms. Pursuant to implementation of various initiatives for reviving the power sector, we are confident of effective utilization of these capacities to meet the increased power requirements.”

 

The company expects to achieve thermal power generation capacity of 9240 MW by FY14.

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