AHMEDABAD: Adani Power Limited (APL) on Friday reported a massive 201.6% rise in its consolidated net profit which stood at Rs 696 crore during the second quarter of 2022-23. The company’s total income grew 51.5% to Rs 8,445.9 crore during the quarter, due to improved tariff realization and higher one-time income of Rs 771 crore, the company said.
APL and its subsidiaries achieved an average Plant Load Factor (PLF) of 39.2% during the quarter and power sale volume of 1,100 crore units, as compared to PLF of 48.7% and power sale volume of 1,240 units in Q2 FY 2021-22.
During the quarter, performance was affected by high import coal prices leading to grid back downs and reserve shutdowns at Mundra and Udupi. Volumes were constrained at other plants due to challenges in fuel availability despite higher power demand.
Anil Sardana, MD, APL, said, “We will continue to seize value accretive opportunities and pursue our long-term growth strategies to leverage our complementarity with the Adani Group’s energy portfolio and partnerships in natural gas and solar energy.”
Commenting on the energy situation globally, he further said, “Conventional power continues to act as the bedrock of India’s stable grids, thereby enabling investments in renewable energy for achieving the nation’s ambitious targets for carbon intensity reduction. Even as the world grapples with the fallout of geopolitical instability in the energy sector, India’s natural resources such as solar energy, wind, and coal have helped protect its economy despite reliance on imports of fossil fuels.”
APL and its subsidiaries achieved an average Plant Load Factor (PLF) of 39.2% during the quarter and power sale volume of 1,100 crore units, as compared to PLF of 48.7% and power sale volume of 1,240 units in Q2 FY 2021-22.
During the quarter, performance was affected by high import coal prices leading to grid back downs and reserve shutdowns at Mundra and Udupi. Volumes were constrained at other plants due to challenges in fuel availability despite higher power demand.
Anil Sardana, MD, APL, said, “We will continue to seize value accretive opportunities and pursue our long-term growth strategies to leverage our complementarity with the Adani Group’s energy portfolio and partnerships in natural gas and solar energy.”
Commenting on the energy situation globally, he further said, “Conventional power continues to act as the bedrock of India’s stable grids, thereby enabling investments in renewable energy for achieving the nation’s ambitious targets for carbon intensity reduction. Even as the world grapples with the fallout of geopolitical instability in the energy sector, India’s natural resources such as solar energy, wind, and coal have helped protect its economy despite reliance on imports of fossil fuels.”
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