Adani Power on Wednesday reported 96 per cent decline in consolidated internet revenue at ₹8.77 crore for December quarter 2022-23 primarily on the again of upper bills.
In the year-ago interval, the revenue was ₹218.49 crore, the corporate stated in a BSE submitting.
Total bills elevated to ₹8,078.31 crore within the quarter from ₹5,389.24 crore. Total earnings rose to ₹8,290.21 crore from ₹5,593.58 crore in the identical interval a yr in the past.
During the quarter, the corporate and its subsidiaries achieved a mean Plant Load Factor (PLF or capability utilisation) of 42.1 per cent and energy sale quantity of 11.8 Billion Units (BU), as in comparison with PLF of 41 per cent and energy sale quantity of 10.6 BU in Q3 FY22.
Operating efficiency for Q3 FY23 contains the efficiency of the 1,200 MW energy plant of Mahan Energen Ltd, which was acquired in March 2022.
How a lot has the Adani group misplaced for the reason that Hindenburg report?
Operating efficiency through the quarter beneath overview was constrained primarily on account of excessive costs of imported coal and inadequate home gasoline availability on account of excessive energy demand.
“Adani Power Ltd has consistently demonstrated its superior skills in project execution, excellence in power plant operations, and capabilities in fuel and logistics management, which has helped it turn around stressed power assets acquired under schemes of corporate debt resolution, apart from setting various benchmarks in its greenfield power plants,” Anil Sardana, Managing Director, Adani Power stated in a press release.
With decision of most of its regulatory points now, the corporate is nicely positioned by way of liquidity to fulfill its current commitments and development necessities, he added.
Adani Power, with its strategically positioned and environment friendly energy crops, is poised to realize most benefit from India’s rising energy demand and supply secure, dependable and reasonably priced energy provide, whereas making certain the betterment of communities round it, he opined.
The proposed Scheme for Amalgamation of Adani Power with six of its working subsidiaries has obtained approval of its secured collectors. The amalgamation course of is anticipated to be accomplished shortly, it acknowledged.