Adani Power reports 96% decline in profits, cites high coal import costs
Adani Power on Wednesday reported 96 per cent decline in consolidated net profit at Rs 8.77 crore for December quarter 2022-23 mainly on the back of higher expenses.
In the year-ago period, the profit was Rs 218.49 crore, the company said in a BSE filing.
Total expenses increased to Rs 8,078.31 crore in the quarter from Rs 5,389.24 crore. Total income rose to Rs 8,290.21 crore from Rs 5,593.58 crore in the same period a year ago.
During the quarter, the company and its subsidiaries achieved an average Plant Load Factor (PLF or capacity utilisation) of 42.1 per cent and power sale volume of 11.8 Billion Units (BU), as compared to PLF of 41 per cent and power sale volume of 10.6 BU in Q3 FY22.
