Adani Power Q1 pre-tax loss at Rs 634 cr on drop in electricity demand
Private power producer Adani Power reported a pre-tax loss of Rs 633. 62 crore for the June quarter, as the pandemic widened losses for the company.
For the April to June period, Adani Power registered a net loss of Rs 682.46 crore, higher from a Rs 263.39 crore net loss reported in the same period a year ago. Adani Power had reported a profit before tax and exceptional item of Rs 882.44 crore in the June 2019 ended quarter, which has now slipped into the red.
As power demand took a hit during the lockdown period, Adani Power’s plant load factor (PLF) also dipped to 51 per cent, as compared to 78 per cent a year ago. “The PLF is lower due to the decline in power demand following the announcement of a nationwide lockdown to combat Covid-19,” the company said in its statement.
