Adani Power net profit jumps multi-fold to `4,645 crore in Q4

NEW DELHI: Adani Power’s consolidated net profit jumped multi-fold to Rs 4,645.47 crore in the March quarter from Rs 13.13 crore in the year-ago period, mainly on the back of higher revenues.

Total income of the company surged 93 per cent to Rs 13,308 crore in the March quarter, from Rs 6,902 crore in the same period a year ago, a company statement said on Thursday.

“Revenue for Q4 FY 202122 includes prior-period revenue from operations of Rs 2,946 crore, and prior-period other income of Rs 1,982 crore,” the statement said.

The EBITDA for Q4 FY 2021-22 witnessed multi-fold increase to Rs 7,942 crore, as compared to Rs 2,143 crore in Q4 FY 2020-21.

“EBITDA growth was aided by prior-period income recognition, greater shortfall claims due to high import coal prices, and higher merchant and short-term tariffs and volumes, as compared to Q4 FY 2020-21,” the statement added.

The consolidated net profit for 2021-22 climbed to Rs 4,911.58 crore, from Rs 1,269.98 crore in 2020-21.

Last fiscal, the company’s total income increased to Rs 31,686.47 crore, from Rs 28,149.68 crore in the same period a year ago.

The company said that electricity demand continues to grow strongly in India, driven both by economic growth and heatwave in the north-western parts of the country.