Adani Power post PAT of Rs 278 cr in Q1FY22 versus Rs 682 loss a year ago

Adani Power Ltd (APL) registered a profit after tax of Rs 278 crore in the first quarter ending June 2021 for the current fiscal, as against a loss of Rs 682 crore during the same period last fiscal. The total comprehensive income for Q1FY22 was Rs 270 crore, compared to comprehensive loss of Rs 705 crore for Q1FY22.

The company attributed the gains to the rising electricity demand. “Electricity demand in the country has recovered smartly after the slump witnessed during the Covid-19 lockdown in Q1 FY21. Resumption of normal economic activity, coupled with inherent demand drivers has propelled the aggregate electricity demand to 341 BU in Q1FY22, which is 16 per cent higher than demand of 293 BU during Q1 FY21,” said the company in its statement.