Mumbai, November 2, 2023: Adani Power Limited (APL), India’s largest private power producer, on Thursday reported a 848% increase in net profit to Rs 6,594 crore for the second quarter of the financial year 2023-24 (Q2FY24). The company’s net profit stood at Rs 746 crore in the corresponding quarter of the previous financial year.
APL’s revenue from operations increased by 84% to Rs 28,918 crore in Q2FY24 from Rs 15,750 crore in the same quarter of the previous financial year. The company’s earnings before interest, tax, depreciation, and amortization (EBITDA) increased by 129% to Rs 10,632 crore in Q2FY24 from Rs 4,614 crore in the same quarter of the previous financial year.
APL’s consolidated installed capacity stood at 16,035 megawatts (MW) as of September 30, 2023. The company’s average plant load factor (PLF) was 60.1% in Q2FY24.
“We are pleased to report a strong performance in Q2FY24,” said Gautam Adani, Chairman of Adani Group. “Our focus on operational excellence and strategic expansion has helped us to deliver on our growth plans.”
APL’s stock price closed at Rs 275.90 on the Bombay Stock Exchange (BSE) on Thursday, up 3.06% from the previous day’s close.
Key Highlights
- Net profit: Rs 6,594 crore, up 848% YoY
- Revenue from operations: Rs 28,918 crore, up 84% YoY
- EBITDA: Rs 10,632 crore, up 129% YoY
- Consolidated installed capacity: 16,035 MW
- Average PLF: 60.1%
Outlook
APL expects to continue to grow its profitability in the coming quarters, driven by strong demand for power in India and the company’s focus on operational excellence and strategic expansion.