Adani Power Q2 profit jumps 201.6% to ₹696 crore

Consolidated income rose 52% year-on-year (YoY) to ₹8,446 crore due to improved tariff realization and higher one-time income of Rs. 771 crore, the company said.

Consolidated EBITDA for Q2FY23 was higher by 51% at ₹2,350 crore, mainly on account of higher one-time income, which was partially offset by higher operating expenses.

“Conventional power continues to act as the bedrock of India’s stable grids, thereby enabling investments in renewable energy for achieving the nation’s ambitious targets for carbon intensity reduction. Even as the world grapples with the fallout of geopolitical instability in the energy sector, India’s natural resources such as solar energy, wind, and coal have helped protect its economy despite reliance on imports of fossil fuels,” Anil Sardana, managing director, Adani Power Limited said.

“Adani Power, is positioned ideally to support India’s growing energy needs and provide stable, reliable and affordable power supply, while ensuring the betterment of communities around it. We will continue to seize value accretive opportunities and pursue our long-term growth strategies to leverage our complementarity with the Adani Group’s energy portfolio and partnerships in natural gas and solar energy,” he added.

Adani Power, part of the diversified Adani Group, is the largest private thermal power producer in India.

The company has an installed thermal power capacity of 13,610 MW spread across seven power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh and Madhya Pradesh, apart from a 40 MW solar power plant in Gujarat.