NEW DELHI: Adani Power on Thursday reported a multi-fold jump in its consolidated net profit to Rs 2,738 crore for the December quarter compared to the year-ago period, driven by higher revenues.
The company had posted a net profit of Rs 9 crore in the Q3FY23. Total income rose to Rs 13,355 crore in the quarter compare to Rs 8,290 crore in the same period a year ago, a company statement said.
The company’s strategically located power plants and optimal capacity allocation between PPAs (power purchase agreements) and merchant capacities, coupled with its strength in fuel management & logistics and excellence in power plant O&M, have allowed it to address growing power demand and generate robust profitability, Adani Power CEO S B Khyalia said.
The ongoing brownfield capacity expansion of 1,600 MW at Mahan is on track, while we are moving ahead to extend leadership further inorganically, he said. During Q3 as well as the nine months period of FY24, higher volumes were contributed by the Mundra, Udupi, Raipur, and Mahan plants apart from incremental contribution of the Godda power plant, it stated.