Adani Power Q3 net profit rises 7% to Rs 2,940 crore

New Delhi: Adani Power on Wednesday posted a 7 per cent rise in its consolidated net profit to Rs 2,940 crore for the December quarter due to higher revenues on the back of higher electricity sale volume.

"Consolidated total revenue for Q3 FY25 higher by 11 per cent to Rs 14,833 crore vs Rs 13,355 crore in Q3 FY24, primarily due to higher volume," a company statement said.

According to the statement, its consolidated profit after tax increased 7 per cent to Rs 2,940 crore in the quarter compared to Rs 2,738 crore a year ago.

The company's consolidated power sale volume in the quarter grew 8 per cent to 23.3 billion units (BU) from 21.5 BU in the year-ago period due to improved power demand and higher operating capacity, it added.

Adani Power CEO SB Khyalia said that the company is well on its way to achieving its generation capacity target of over 30 GW by 2030, with rapid progress in under-construction projects, a secure supply chain, and successful bids for long-term PPA (power purchase agreement) tie-ups.

"We are well-positioned to benefit from the attractive opportunities in the Indian thermal power sector and to support its steadily growing power demand...We are taking steps ranging from backward integration into mining to improve our competitiveness and digitalisation of our operations to enhance our future readiness," Khyalia noted.

The Board of Directors of Adani Power has also approved enhancement and combination of the previously approved fund-raising limit by way of nonconvertible debentures (NCDs) from Rs 5,000 crore to Rs 11,000 crore, which are to be raised through public issue or private placement, or a mix thereof, and which may be issued in one or more tranches.

The board cleared the proposal to raise funds by way of issuance of such number of equity shares having a face value of Rs 10 each or other eligible securities or any combination thereof (hereinafter referred to as the Securities), for an aggregate amount not exceeding Rs 5,000 crores or an equivalent amount thereof by way of qualified institutions placement (QIP) or other permissible mode in one or more tranches.

Adani Power (APL), a part of the Adani portfolio, is the largest private thermal power producer in India.

The company has an installed thermal power capacity of 17,510 MW spread across eleven power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat.