Adani Power Ltd on October 28 reported 50% decline in net profit at Rs 3,298 crore for the quarter ended September 30, 2024. It reported net profit of Rs 6,594 crore in the year-ago period.
On October 28, Adani Power's shares on BSE closed trading 0.62% higher at Rs 596 apiece.
The Adani Group's firm's revenue from operations rose nearly 3% higher to Rs 13,339 crore in Q2FY25 as compared to Rs 12,991 crore in Q2FY24.
S B Khyalia, CEO, Adani Power, said: “Adani Power has embarked on the next phase of its growth journey, swiftly achieving capacity expansion milestones and securing power supply agreements to ensure long-term revenue stability. The company consistently delivers robust operating and financial performance by leveraging its inherent strengths and competitive advantages. Its diverse capabilities and financial resilience provide a solid foundation for growth, enabling it to realize its vision of supporting India's economic development with reliable, sustainable, and affordable power supplies. Additionally, we are committed to rapidly turning around our recently acquired stressed power plants by utilizing our core competencies and strengths.”
"Power demand was flat during Q2FY25 as compared to the corresponding quarter of FY24.
This was primarily due to climatic conditions such as a delayed but prolonged rain spell
affecting demand. Nevertheless, cumulative demand for FY25 till September 30, 2024 was robust with a growth of 5% over the first half of FY24. Growing peak demand has also improved power offtake from the thermal power sector to ensure uninterrupted power supply during the hours of low renewable energy generation," said Adani Power in a stock exchange filing.
Consolidated continuing EBITDA for Q2FY25 was higher by 24.6% at Rs 5,402 crore versus Rs 4,336 crore for Q2 FY24 due to greater sales volumes as well as lower fuel and operating costs, said the company.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.