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Electric Utilities company Adani Power announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- Reported revenues of Rs 13,882 crore for the quarter include prior period items of Rs 94 crore pertaining to regulatory orders, as compared to Rs 131 crores included in Q4FY23 reported revenues of Rs 10,795 crore.
- Continuing EBITDA for the quarter grew strongly by 126% to Rs 5,273 crore as compared to Rs 2,329 crore for Q4FY23.
- Depreciation Charge and Finance Cost for the quarter increased to Rs 990 crore and Rs 820 crore respectively due to the commissioning of the Godda project.
- This enduring improvement in operating profitability has resulted in a sharp growth in Profit Before Tax to Rs 3,558 crore for the quarter, as compared to Rs 898 crore for Q4FY23.
FY24 Financial Highlights:
- Reported revenues of Rs 60,281 crore for FY24 include one-time prior period items of Rs 9,322 crore. In comparison, one-time prior period revenue recognition of this nature for FY23 was Rs 5,772 crore in reported revenues of Rs 43,041 crore.
- Continuing EBITDA for the year grew to Rs 18,789 crore as compared to Rs 8,540 crore for FY23. Reported EBITDA for the year also grew strongly to Rs 28,111 crore as compared to Rs 14,312 crore for FY23.
- Strong improvement in operating profitability, along with higher recovery of one-time regulatory income and control over Finance Costs has helped boost Profit Before Tax during FY24 to Rs 20,792 crore as compared to Rs 7,675 crore for FY23.
- APL reported Consolidated Profit After Tax of Rs 20,829 crore for FY24, which is nearly double the PAT of Rs 10,727 crore for FY23, owing to both improved recurring profitability and higher one-time income.
Commenting on the quarterly results, Gautam Adani, Chairman, Adani Group said, “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”
S B Khyalia, CEO, Adani Power, said, "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.”
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