Adani Power Q1 net profit surges 16-fold to Rs 47.80 bn

Adani Power reported a 16-fold jump in consolidated net profit of Rs 47.80 billion for the quarter ended June 30, 2022. It reported consolidated net profit of Rs 2.78 billion in the same period a year ago.

The company's consolidated revenue increased by 109% to Rs 137.23 billion compared to Rs 65.69 billion in Q1FY22. The cost was Rs 96.43 billion during the quarter, compared to Rs 67.63 billion in the previous fiscal year.

“We have been able to effectively capitalize on the opportunities presented by the market situation, leveraging our diversified fleet and operational excellence to meet rising power demand. Regulatory issues that have long been unresolved have been almost completely resolved, increasing visibility is enhanced and we are provided with liquidity to propel our drive to deliver on our long-term strategies and meet our stakeholder value ambitions,” said Anil Sardana, managing director of Adani Power Ltd, in a statement.

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