Adani Power Ltd (ADL) said Wednesday its consolidated net profit rose by 22 per cent to Rs 386.89 crore in the quarter ended September 30, 2018. The company had clocked net profit of Rs 316.88 crore during the same period a year ago, country’s largest private thermal power producer said in a regulatory filing.
Its total income rose to Rs 7,657.23 crore in the quarter under review from Rs 6,414.65 crore in July-September of 2017-18 fiscal. ADL’s total expenses during the said quarter were at Rs 6,955.35 crore, higher from Rs 6,101.27 in the year-ago quarter.
In a separate statement, ADL said the finance cost for second quarter of 2018-19 fiscal was Rs 1,407 crore as compared to Rs 1,389 crore in the year-ago quarter. “The increase in finance cost was primarily due to higher borrowing during the quarter, which was partially offset by gains on forex hedges”, it said. It further said that the average Plant Load Factor (PLF) achieved during the second quarter of FY 2018-19 was 65 per cent higher as compared to 63 per cent achieved in the second quarter of FY 2017-18. This growth was on account of better coal availability and strong demand from DISCOMs, the company said. Read more