Adani Power Q3 results: Net loss narrows to Rs 703 crore

Mumbai: Adani Power’s comprehensive net loss narrowed to Rs 703 crore for the third quarter of 2019-20, as against a loss of Rs 1,180 crore reported a year ago, driven and improvement in fuel cost recovery including compensatory tariffs.

The Gautam Adani-led company reported consolidated total income of Rs 6,685 crore in Q3FY20, as compared to Rs 6,667 crore in Q3FY19, the company said Thursday.

The company’s topline included revenue recognition pertaining to earlier periods towards compensation for change in law and carrying cost, and late payment surcharge in Q3FY20.


The company said that in Q3FY20, Adani Power, along with the power plants of its subsidiaries at Mundra, Tiroda, Kawai, and Udupi achieved an average plant load factor (PLF) of 70%, while the Raipur Energen (REL) plant achieved a PLF of 55% while the average PLF in the same period last year was 73%.

“This lower PLF during Q3FY2020 was primarily a result of lower grid demand and higher renewable energy generation, while the inclusion of REL helped improve sales volumes.

Aggregate sales volumes in Q3FY20 was 16.4 billion units as against 15.8 billion units a year ago.

“The power sector is intricately linked with economic growth, and we are confident of seeing a strong revival of growth in electricity consumption soon. The Adani Group is committed to its role as nation builder, and is set on the path of sustainable growth,” Chairman Adani said in the statement.

Adani Power has an installed thermal power capacity of 12,410 megawatts (mw) spread across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh, apart from a 40 mw solar power plant in Gujarat.

Vneet S Jaain, CEO, said, “The company is now well positioned to capitalise on its leadership position, operational strengths, greater domestic fuel availability, and enhanced cost recovery, to deliver improved profitability and tap value-accretive growth opportunities.”