Adani Power swings to Rs 634.6-crore profit in Q4
Adani Power reported a profit of Rs 634.6 crore on a consolidated basis for the quarter ended March 31, against a loss of Rs 634.3 crore in the corresponding period last fiscal as capacity utilisation (PLF) of its power plants doubled to 79% on improved coal supply.
Buoyed by regulatory approvals for substantial compensatory payments against previous domestic coal shortfalls and fuel-cost under-recoveries at its Mundra, Tiroda and Kawai power plants, the company’s revenue went up by 94% year-on-year (y-o-y) to Rs 8,077.9 crore.
Total income in the quarter included a relief of Rs 711 crore which the company recognised after the Central Electricity Regulatory Commission (CERC) allowed the Gujarat government to revise its power purchase agreement (PPA) with the imported coal-based power plant.
