Adani Power Q3 net profit at Rs 102 crore

NEW DELHI: Adani Power today reported a consolidated net profit of Rs 101.75 crore for the quarter ended December 31, 2015 due to operational excellence achieved from the existing plants as well as additional sale from Udupi plant.

However, the company had posted a net loss of Rs 428.68 crore in the year-ago period, the Adani Group firm said in a filing to BSE.

Net sales of the company during the quarter under review was at Rs 6,184.08 crore as against Rs 5,496.38 crore in the year-ago period.

"Consolidated total income for third quarter increased by 12 per cent to Rs 6,211 crore compared to Rs 5,538 crore in the year-ago period mainly due to additional sale from Udupi plant," it said in statement.

Consolidated EBIDTA for the quarter increased by 13 per cent to Rs 2,027 crore compared to Rs 1,793 crore for the third quarter of the previous fiscal, the statement said.

"EBIDTA impact due to demerger of transmission business for December quarter of previous fiscal of Rs 155 crore was more than compensated by EBIDTA from UPCL, improved operational efficiencies and lower costs in third quarter of 2015-16," it said.

"Our financial results for the quarter have improved through operational excellence achieved from the existing plants as well as contribution from the acquired Udupi plant.

"We remain optimistic about the sector in light of the announcements made in the revised Power Tariff Policy coupled with enhanced supply of domestic coal," Adani Power Chief Executive Officer Vneet Jaain said.

Shares of the company closed at Rs 24.80 a piece on BSE, up 2.69 per cent from the previous close.