Adani Power Ltd, a part of Adani portfolio companies, on Thursday, May 2, announced the financial results for the fourth quarter ended 31st March 2024, the company announced through an exchange filing.
Key Highlights of the financial performance
- Consolidated power sale volume at 22.1 Billion Units (BU) in Q4 FY24, up by 55 per cent from 14.3 BU in Q4 FY23 due to improved power demand, lower import coal prices, and larger installed capacity.
- Consolidated continuing total revenue for Q4 FY24 higher by 29 per cent at Rs 13,787 Crore vs Rs 10,664 Crore in Q4 FY23; mainly due to higher sales volumes.
- Consolidated continuing EBITDA for Q4 FY24 more than doubles to Rs. 5,273 Crore vs Rs. 2,329 Crore for Q4 FY23; due to greater revenues and lower import fuel prices.
- Consolidated Profit Before Tax for Q4 FY24 grows to nearly four times at Rs 3,558 Crore vs Rs 898 Crore for Q4 FY23 due to higher reported EBITDA and lower leverage.
- Consolidated power sale volume at 79.3 BU in FY24, up by 48 per cent from 53.4 BU in FY23 due to improved power demand, lower import coal prices, and larger installed capacity.
- Consolidated continuing total revenues higher by 37 per cent at Rs 50,960 Crore in FY24 vs Rs 37,268 Crore in FY23; due to higher sales volumes.
- Consolidated continuing EBITDA for FY24 more than doubled to Rs 18,789 Crore vs Rs 8,540 Crore in FY23; driven by higher revenues and lower import fuel prices.
- Higher one-time income recognition of Rs 9,322 Crore for FY24 vs Rs 5,772 Crore for FY23; driven by higher collection of late payment surcharges.
- Consolidated Profit Before Tax for FY24 more than doubles to Rs 20,792 Crore vs Rs 7,675 Crore in FY23; due to higher reported EBITDA and lower leverage.
Commenting on the quarterly results, Gautam Adani, Chairman, Adani Group said, “As India transitions to a more sustainable energy future, the Adani Portfolio of companies will continue to provide innovative, reliable, and scalable solutions to support the nation’s economic growth and help realise the aspirations of its billion plus citizens. Adani Power is a key component of our long-term strategy, supplying reliable base load power across a vast part of the country, executing benchmark-setting projects, creating assets of national importance, and acting as the balancing supply to enable greater integration of renewables in the grid. We are committed to continuous innovation across businesses and creating sustainable value for all stakeholders.”
S B Khyalia, CEO, Adani Power Limited, said, "Adani Power has posted yet another outstanding quarter demonstrating its core strengths, capping a year of exceptional operational and financial performance in a fitting testimony to its sound strategy and operational excellence. On our journey to achieve the Company’s vision, we are focusing on tech-enabled reliability enhancement, reduction in cost of generation, and improvement in plant efficiency."
