Adani Power's net profit fell by over 55% to Rs 3,913 crore in the April-June quarter, driven by higher expenses. Total income also declined, while power sale volume increased.
New Delhi, Jul 31 (PTI) Adani Power on Wednesday reported over 55 per cent dip in its consolidated net profit to Rs 3,913 crore in the June quarter compared to the year-ago period due to higher expenses.
The consolidated net profit of the company was Rs 8,759 crore in the quarter ended on June 30, 2023.
Total income declined to Rs 15,474 crore in the April-June quarter of 2024-25 from Rs 18,109 crore in the same quarter of the last year. Total expenses increased Rs 10,568.44 crore in the quarter from Rs 9,309.39 crore in the same period a year ago.
Adani Power CEO S B Khyalia in the statement said, "As Adani Power grows from strength to strength, we have undertaken advance development activities to secure execution pipelines for three ultra-supercritical projects of 1,600 MW each to prepare ourselves for the anticipated resurgence in the thermal power sector."
Operating revenue growth was tempered in comparison to volume growth due to lower tariff realisation, it said.
Consolidated power sale volume was at 24.1 billion units (BU) in the first quarter of FY25, up by 38 per cent from 17.5 BU in Q1 FY24 due to improved power demand and larger effective operating capacity.
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