AHMEDABAD: Adani Power on Wednesday posted a whopping 1,619% growth in its consolidated net profit during the first quarter of fiscal year 2022-23.
The company’s profit stood at Rs 4,780 crore during the quarter against Rs 278 crore in the corresponding quarter of 2021-22.
The company’s consolidated total revenue for the quarter rose 115% at Rs 15,509 crore, as compared to Rs 7,213 crore in the corresponding quarter.
According to the company’s regulatory filing, the operating performance during the quarter was affected due to high import coal prices which impacted the performance of Mundra and Udupi, while volumes at Raipur and Raigarh were lower due to domestic coal shortage.
Anil Sardana, managing director, Adani Power Limited, said, “Pragmatic policy decisions and abundant natural resources have shielded the economy from its worst impact. Adani Power has been able to utilise the opportunities presented by the market situation effectively, leveraging its diversified fleet and operations-excellence to meet rising power demand.”
