Adani Power has reported a remarkable consolidated net profit of Rs 6,594 crore for the July-September quarter of the current financial year, marking an astounding increase of 848 percent compared to the corresponding figure of Rs 696 crore in the same period of the previous year. This notable growth includes a one-time gain of Rs 1,371 crore attributed to a tax credit.
The company's revenue from operations for the quarter stood at Rs 12,990.58 crore, representing an 84.42 percent surge from the Rs 7,043.77 crore reported in the same quarter of the previous year. The substantial increase in revenue was primarily driven by higher sales volumes, including the contribution from the Godda power plant and increased merchant sales. Additionally, lower import coal prices contributed to higher power sales under import coal-based Power Purchase Agreements (PPAs) for the Mundra and Udupi plants. The tariffs under these PPAs are determined in accordance with approved regulatory processes and track international coal prices.
This financial performance highlights the significant growth and profitability achieved by Adani Power during the specified period.
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