Adani Power posts loss at Rs 358 cr in Q3

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Adani Power posts loss at Rs 358 cr in Q3

Adani Power has reported a net loss of Rs 358 crore in the October-December quarter of FY12 as against a profit of Rs 109 crore in a year ago quarter.

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Adani Power has reported a net loss of Rs 358 crore in the October-December quarter of FY12 as against a profit of Rs 109 crore in a year ago quarter.

In a press conference, the management says, Q3 earnings were hit by increase in coal cost.

The company posted a forex loss of Rs 205 crore during third quarter results.

Net sales rose 110.54% to Rs 1,059 crore from Rs 503 crore year-on-year.

Expenditure increased 2.71 times to Rs 1,004 crore from Rs 271 crore.

EBITDA was down by 24% to Rs 212 crore from Rs 278 crore year-on-year. Operating profit margin declined at 20.01% versus 55.32% during the same period.

Fuel costs went up 3.21 times to Rs 736 crore and interest costs rose 1.61 times to Rs 139 crore year-on-year. Depreciation cost has gone up 2.45 times to Rs 157 crore

Average plant load factor stood at 66% versus 85% year-on-year. Average realisation during the quarter was at Rs 3.51/kwh.

At 13:39 hours IST, the stock fell 1.2% to Rs 79.45. Trading volume increased 350% to 1,275,707 shares as against 5-day average of 284,408 shares.