New Delhi: Adani Power’s consolidated net profit jumped several fold to Rs 4,645.47 crore in the March quarter from Rs 13.13 crore a year ago, mainly on the back of higher revenues. The company’s total revenue jumped 93% to Rs 13,308 crore in the March quarter from Rs 6,902 crore in the same period a year ago, a company statement said on Thursday.
“Revenue for the fourth quarter of the 2021-22 financial year comprises prior period operating revenue of Rs 2,946 crore and prior period other revenue of Rs 1,982 crore,” the statement said.
EBITDA for the fourth quarter of FY 2021-22 increased several fold to Rs 7,942 crore from Rs 2,143 crore in the fourth quarter of FY 2020-21.
“EBITDA growth was helped by recognition of prior period revenues, higher loss of profit claims due to higher import coal prices and higher merchant and short-term tariffs and volumes. high, compared to the fourth quarter of fiscal year 2020-21,” the statement added.
Consolidated net profit for 2021-22 increased to Rs 4,911.58 crore from Rs 1,269.98 crore in 2020-21. In the last financial year, the company’s total revenue rose to Rs 31,686.47 crore from Rs 28,149.68 crore in the same period a year ago.
Gautam Adani, Chairman of Adani Group, said the availability of reliable power supply for various sectors across the country is essential for economic growth. “The Adani Group is committed to meeting India’s energy needs in a sustainable, reliable and affordable manner. Our diverse presence across the entire energy value chain helps us ensure that this vital input is always available to power economy, even in times of global volatility, and helps advance the vision of progress and prosperity for all,” Adani said.
Anil Sardana, Managing Director of Adani Power, said that over the next few years, “we will focus on maximizing the utilization of our fleet while guiding our acquisitions and new assets to become value investments. added”. “Recent developments on the regulatory front have also dispelled … long-standing uncertainty, which will contribute significantly to improving our liquidity position,” he added. The company completed the acquisition of Essar Power MP Limited (EPMPL), a company in the process of resolution of insolvency under the Insolvency and Bankruptcy Code, on March 16, 2022. The name of EPMPL has later changed to Mahan Energen Ltd (MEL). APL’s installed thermal power generation capacity increased to 13,610 MW after the acquisition of MEL.
The company said electricity demand continues to grow strongly in India, driven by both economic growth and the heat wave in the northwest of the country. Additionally, recent geopolitical events in Europe have led to a sharp increase in global fuel prices, including coal, oil and natural gas. Aggregate energy demand for 2021-2022 across the country was 1.380 billion units (BU), registering an 8.2% growth compared to energy demand for fiscal year 2020-21. Likewise, peak electricity demand grew by 6.7% to reach a record high of 203 GW in 2021-22 compared to FY 2020-21.