Adani Power Q4 Outcome: Revenue up by 30%, net profit slides down 48% YoY basis to ₹2,737 cr

The electricity firm posted a corresponding profit of ₹5,243 crore during the same quarter last year, although the company’s overall net profit decreased by 48% to ₹2,737 crore.

Money

By Sneha Sengupta On May 1, 2024

Adani Power, owned by billionaire Gautam Adani, released its financial results for the quarter that concluded on March 31, 2024, on May 1. The company announced a significant increase in revenue for the quarter, hitting ₹13,787 crore, or a phenomenal 29% year-over-year gain. During the same time, EBITDA increased by over 100% year over year to ₹5,273 Crore.

Sangeeta Singh has been appointed as an Additional Director (Non-Executive, Independent) with an initial term of three years, as stated by the Gautam Adani-led firm.

Due to increased power demand, cheaper import coal prices, and more installed capacity, the combined power sale volume increased by 48% from 53.4 BU in FY23 to 79.3 BU in FY24.

“As India transitions to a more sustainable energy future, the Adani Portfolio of companies will continue to provide innovative, reliable, and scalable solutions to support the nation’s economic growth and help realise the aspirations of its billion plus citizens. Adani Power is a key component of our long-term strategy, supplying reliable base load power across a vast part of the country, executing benchmark-setting projects, creating assets of national importance, and acting as the balancing supply to enable greater integration of renewables in the grid. We are committed to continuous innovation across businesses and creating sustainable value for all stakeholders,” mentioned Gautam Adani, Chairman at Adani Group.

Performance status

The 1600 MW Godda Ultrasupercritical Thermal Power Plant of APL’s subsidiary Adani Power (Jharkhand) Limited (APJL), which went into operation in Q1 FY 2023–24, is included in the operating performance for Q4 FY 2023–24.

In FY24, the one-time income recognition climbed to ₹9,322 crore from ₹5,772 crore in FY23.

“Adani Power has posted yet another outstanding quarter demonstrating its core strengths, capping a year of exceptional operational and financial performance in a fitting testimony to its sound strategy and operational excellence. On our journey to achieve the Company’s vision, we are focusing on tech-enabled reliability enhancement, reduction in cost of generation, and improvement in plant efficiency. Adani Power is committed to empowering lives and contributing to India’s energy security by anticipating the need for sustainable, affordable, and reliable power supply and serving it by building capacities in a timely and costeffective manner,” stated S B Khyalia, CEO at Adani Power Limited.

Adani Power Gautam Adani