Adani Power on Thursday said its net loss for the December quarter narrowed to Rs 703 crore against a loss of Rs1,179.98 crore a year ago as operational performance improved on the back of lower fuel cost and higher margins. However, the earnings missed the consensus estimate of Rs49 crore loss during the quarter.
Revenues from operations for the third quarter rose 4.28% y-o-y to Rs6,574.82 crore on account of contribution from newly-acquired companies during the quarter. Revenues also included income recognition of Rs20 crore towards compensation for change in law, carrying cost, and late payment surcharge in Q3FY20. The contribution from acquisition of Raipur Energen (REL) and Raigarh Energy Generation (REGL) to consolidated revenues in Q3FY20 was Rs482 crore, the company said.
