Adani Power Q3: Net Profit Dives 96%, EBITDA Falls on Higher Fuel Costs

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Adani Power Q3: Net Profit Dives 96%, EBITDA Falls on Higher Fuel Costs
Credit: © Reuters.

Mavika Gurung -- India’s largest private power company Adani Power (NS: ADAN ) released its earnings results for the quarter that ended on December 31, 2022, reporting a whopping fall in its bottom line figures.

The company’s consolidated net profit tumbled by 96% to Rs 8.77 crore on a YoY basis in the December quarter from Rs 218.5 crore year-on-year. 

Its consolidated total revenue in the quarter surged 48% YoY to Rs  8,290 crore, on the back of greater regulatory claims, increased operating capacity, and improved tariff realization.

The EBITDA for Q3 FY23 dropped to Rs 1,996 crore from Rs 2,003 crore in the year-ago period due to the impact of higher fuel costs, which was partially offset by higher one-time income. 

Further, the Adani Group company’s operating performance during the quarter under review was constrained mainly due to high import coal prices and insufficient domestic fuel availability due to high power demand. 

“With a resolution of most of its regulatory issues now, the Company is well placed in terms of liquidity to meet its present commitments and growth requirements,” said the company’s Managing Director Anil Sardana.

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