Electric Utilities company Adani Power announced consolidated Q1FY24 results:
- Installed capacity grows from 13,650 MW as of June 30, 2022, to 15,250 MW as of June 30, 2023, after the commissioning of the 1,600 MW Godda Ultra-supercritical Power Plant, which supplies cross-border power to Bangladesh.
- PLF 60.1% and power sales 17.5 BU in Q1FY24 vs 58.6% and 16.3 BU in Q1FY23 respectively.
- Total revenue increased by 16.8% at Rs 18,109 crore in Q1FY24 vs Rs 15,509 crore in Q1FY23; mainly due to improved volumes and higher one-time revenue recognition on account of regulatory claims and Late Payment Surcharge.
- EBITDA for Q1FY24 was higher by 41.5% at Rs 10,618 crore vs Rs 7,506 crore in Q1FY23; mainly due to higher one-time revenue recognition and incremental contribution of Godda power plant.
- PAT for Q1FY24 was higher by 83.3% at Rs 8,759 crore vs Rs 4,780 crore for Q1FY23.
Commenting on the quarterly results of the company, S B Khyalia, CEO, Adani Power, said, "Adani Power has increased its lead among IPPs with commissioning of the 1,600 MW Godda USCTPP and entered a new era of transnational power sales. We are proud to support Bangladesh in enhancing the means available to its high-potential economy for fulfilling the aspirations of its hard-working and enterprising population. As India’s leading private power producer, we stand committed to upholding our pledge to help the nation achieve its climate goals by adopting the latest, resource-efficient technologies such as Ultra-supercritical power plants incorporating emission control equipment, and exploring reduction of our carbon footprint through innovative solutions. With a satisfactory resolution of virtually all regulatory matters, the Company’s revenues and cash flows have now entered a stable phase.”