Adani Power records loss of Rs 230 crore in Q2 FY22
POWER & RENEWABLE ENERGY

Adani Power records loss of Rs 230 crore in Q2 FY22

Adani Power noted a consolidated net loss of Rs 230.60 crore in the second quarter of 2021, owing to lower revenues.

According to a BSE filing, the company's consolidated net profit for the quarter ended September 30, 2020, was Rs 2,228.05 crore.

In the third quarter, the company's total income was Rs 5,571,76 crore, down from Rs 8,792,28 crore a year earlier.

Higher one-time revenue recognition of Rs 3,233 crore was recorded in the second quarter of the previous year as a result of various regulatory orders.

Higher grid demand in Maharashtra, India's most industrialised state, improved capacity utilisation at the Tiroda plant.

The Raipur and Raigarh plants, meanwhile, were able to achieve higher volumes in the merchant and short-term markets, according to the company.

However, lower Adani Power capacity utilisation at Mundra due to high import coal prices and low grid demand at Udupi due to higher renewable energy penetration resulted in higher Plant Load Factor (PLF) in other plants, which was offset by higher Plant Load Factor (PLF) in other plants.

As a result, APL achieved a consolidated average PLF or capacity utilisation of 48.7% and sales volume of 12.3 Billion Units (BU) in the second quarter of FY 2021-22, compared to a PLF of 49.9% and sales volume of 12.6 BU in the second quarter of FY 2020-21.

APL and its subsidiaries achieved an average PLF of 56.7% and sales volume of 28.5 BU in the six months ended September 30, compared to a PLF of 50.4% and sales volume of 25.3 BU in the year-ago period.

Apart from a 40-MW solar power plant in Gujarat, the company has a total installed thermal power capacity of 12,410 megawatts (MW) spread across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, and Chhattisgarh.

Adani Power is on track to meet its growth potential thanks to a world-class team of experts in every field of power.

Image Source

Also read: Adani Power bags Essar Power's 1,200 MW Mahan Project

Adani Power noted a consolidated net loss of Rs 230.60 crore in the second quarter of 2021, owing to lower revenues. According to a BSE filing, the company's consolidated net profit for the quarter ended September 30, 2020, was Rs 2,228.05 crore. In the third quarter, the company's total income was Rs 5,571,76 crore, down from Rs 8,792,28 crore a year earlier. Higher one-time revenue recognition of Rs 3,233 crore was recorded in the second quarter of the previous year as a result of various regulatory orders. Higher grid demand in Maharashtra, India's most industrialised state, improved capacity utilisation at the Tiroda plant. The Raipur and Raigarh plants, meanwhile, were able to achieve higher volumes in the merchant and short-term markets, according to the company. However, lower Adani Power capacity utilisation at Mundra due to high import coal prices and low grid demand at Udupi due to higher renewable energy penetration resulted in higher Plant Load Factor (PLF) in other plants, which was offset by higher Plant Load Factor (PLF) in other plants. As a result, APL achieved a consolidated average PLF or capacity utilisation of 48.7% and sales volume of 12.3 Billion Units (BU) in the second quarter of FY 2021-22, compared to a PLF of 49.9% and sales volume of 12.6 BU in the second quarter of FY 2020-21. APL and its subsidiaries achieved an average PLF of 56.7% and sales volume of 28.5 BU in the six months ended September 30, compared to a PLF of 50.4% and sales volume of 25.3 BU in the year-ago period. Apart from a 40-MW solar power plant in Gujarat, the company has a total installed thermal power capacity of 12,410 megawatts (MW) spread across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, and Chhattisgarh. Adani Power is on track to meet its growth potential thanks to a world-class team of experts in every field of power. Image Source Also read: Adani Power bags Essar Power's 1,200 MW Mahan Project

Next Story
Infrastructure Transport

Indian Railways Races Ahead with Vande Bharat Trains and Kavach Tech

Indian Railways is set to revolutionize its network under PM Gati Shakti and Atmanirbhar Bharat with initiatives like manufacturing 400 next-generation Vande Bharat trains and deploying Kavach, a world-class indigenous safety system. The Ministry of Finance emphasized this commitment in a recent update on X, stating, ""Indian Railways is selecting technology partners to indigenously manufacture energy-efficient Vande Bharat trains. #BudgetForViksitBharat.""With 68 Vande Bharat Express trains already operational across 15 zones, Indian Railways aims to expand its fleet over the next three years..

Next Story
Infrastructure Urban

Tourism Development in Manali Gets Rs 1.5 billion Boost

Chief Minister Sukhvinder Singh Sukhu unveiled a tourism development project worth Rs 1.5 billion, funded by the Asian Development Bank (ADB), to upgrade tourism infrastructure in Manali. The announcement was made during the inauguration of the Sharad-Utsav Winter Carnival at Manu Rangshala.Sukhu also revealed plans for a Rs 150 milllion bridge connecting Rangdi to the left bank to reduce traffic congestion at Manali’s entrance. Additional initiatives include developing hot water bath facilities, a nature park, and amenities at Kalath, alongside enhancing the region's natural hot springs.The..

Next Story
Infrastructure Urban

OYO to Expand Footprint with 500 Hotels in Religious Hubs

OYO, the global hospitality tech leader, announced plans to launch 500 hotels in major Indian pilgrimage destinations, aligning with the government’s push to enhance spiritual tourism. The expansion covers popular hubs such as Ayodhya, Varanasi, Prayagraj, Haridwar, Puri, and more, ensuring quality stays for millions of devotees.Ayodhya will see the highest focus, with over 150 new hotels to meet rising demand following the Ram Temple inauguration last year. Ayodhya also became the most-searched spiritual destination on the OYO app, recording a 39 per cent growth in searches for New Year hol..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000