Adani Power Q1 Results: Net profit drops 55% to ₹3,913 crore, revenue rises 36% YoY

Adani Power Q1 Results: Adani Power announced its April-June quarter results for fiscal 2024-25 (Q1FY25) on Wednesday, July 31, reporting a drop of 55.3 per cent in net profit at ₹3,913 crore, compared to ₹8,759 crore in the corresponding period last year. The Adani Group's power major's revenue from operations in the first quarter of current fiscal rose 35 per cent to ₹14,955.6 crore, compared to ₹11,005.5 crore in the year-ago period.

On the operational front, the company's earnings before interest, tax, depreciation, and amortization (EBITDA) rose 76 per cent to ₹6,195 crore, compared to ₹3,514 crow in the same period last year. Margin rose to 41.4 per cent in the June quarter, compared to 31.9 per cent in the year-ago period.

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Adani Power Q1 Results - Key Metrics

Adani Power's drop in net profit was because the higher fuel costs ate into heatwave-driven demand surge. The company, whose power plants are spread across seven states in the country, said its June-quarter consolidated power sales volume rose about 38 per cent to 24.1 billion units.

The company's expenses rose 13.5 per cent to ₹10,568 crore, led by a 16.8 per cent jump in fuel costs due to higher crude oil prices. Fuel accounts for 70 per cent of Adani total's overall expense bill. The rise in revenue was attributed the rise to improved power demand and larger effective operating capacity.

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"As Adani Power grows from strength to strength, we have undertaken advance development activities to secure execution pipelines for three Ultra-supercritical projects of 1,600 MW each to prepare ourselves for the anticipated resurgence in the thermal power sector," said SB Khyalia, CEO, Adani Power.

"Our strategic focus is to derisk our growth plans by utilizing high efficiency, low emission technologies, pooling our deep experience and multi-domain expertise for project development, securing access to fuel resources, and revitalizing the organization to become more agile and competitive in the digitalized world,'' said Khyalia.

"Adani Power is dedicated to enhancing lives and ensuring India's energy security by proactively addressing the need for sustainable, affordable, and reliable power, while also being a responsible steward of the environment and surrounding communities,'' he added.

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Power demand is continuing to exhibit strong growth across India, with aggregate power demand in the first quarter growing at 10.6 per cent year-on-year and peak demand growing at 12 per cent to reaching a record level of 250 GW. According to the compnay, the positive environment for the power sector has resulted in higher offtake from Adani Power's power plants from both contracted capacities and open capacities.

During April-June 2024-25 quarter, higher volumes were contributed by almost all plants led by Mundra and Mahan in addition to Godda, the second 800 MW unit of which was commissioned in June 2023. The Adani Group company has an installed thermal power capacity of 15,210 MW spread across eight power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand, apart from a 40 MW solar power plant in Gujarat