Published 16:57 IST, July 31st 2024

Adani Power reports 55% drop in Q1 net profit to Rs 3,913 crore

The company's total income also decreased, reaching Rs 15,474 crore in the April-June quarter of 2024-25, compared to Rs 18,109 crore during Q1FY24.

Reported by: Business Desk
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Adani Power Q3 earnings | Image: Adani Power
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Adani Power Q1 earnings: Adani Power announced a significant 55 per cent decline in its consolidated net profit for the June quarter, falling to Rs 3,913 crore from Rs 8,759 crore in the same period last year, primarily due to increased expenses.

The company's total income also decreased, reaching Rs 15,474 crore in the April-June quarter of 2024-25, compared to Rs 18,109 crore during the same quarter of the previous year. Total expenses rose to Rs 10,568.44 crore, up from Rs 9,309.39 crore in the corresponding period of FY24.

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S B Khyalia, CEO of Adani Power, commented on the results, saying, “As Adani Power continues to grow, we have initiated advance development activities to secure execution pipelines for three ultra-supercritical projects of 1,600 MW each. This is part of our strategy to position ourselves for the anticipated resurgence in the thermal power sector.”

The statement also noted that while operating revenue growth was subdued compared to volume growth due to lower tariff realisation, the consolidated power sale volume increased significantly. The company sold 24.1 billion units (BU) of power in the first quarter of FY25, marking a 38 per cent rise from 17.5 BU in Q1 FY24, driven by improved power demand and enhanced operating capacity.

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(With PTI inputs)

 

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16:57 IST, July 31st 2024