Adani Power plunges into red with Rs 4,960 cr Q4 loss over adverse SC order

Adani Power plunges into red with Rs 4,960 cr Q4 loss over adverse SC order

Non-recognition of compensatory tariff (CT) for its Mundra plant following the Supreme Court judgement has seen Adani Power Ltd (APL) post a standalone net loss of Rs 4,689.83 crore for the fourth quarter ended March 31, 2017. As against this, the company had registered a standalone net profit of Rs 1,012.19 crore in Q4 of previous fiscal 2015-16.

The company’s standalone total income for Q4 of FY17 fell by 13.68 per cent to Rs 3,395.46 crore from Rs 3,933.94 crore in the corresponding quarter last year. On an annual basis, while APL posted a standalone net loss of Rs 6,054.34 crore in FY17 as against a net profit of Rs 96.54 crore in FY16, the company’s annual standalone total income fell by 12.27 per cent to Rs 11,753.19 crore in FY17 from Rs 13,398 crore in FY16.

On a consolidated basis, APL registered a net loss of Rs 4,960.53 crore in Q4 of FY 2016-17 as compared to a net profit of Rs 1085.05 crore in Q4 of FY 2015-16. The company’s fourth quarter consolidated total income fell by 15 per cent to Rs 6,586.42 crore in FY17, from Rs 7,756.96 crore a year ago. On an annual basis, the company incurred a consolidated net loss of Rs 6,174.10 crore in fiscal 2016-17 compared to a net profit of Rs 550.80 crore in fiscal 2015-16. Read more

Credits:business-standard.com

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