Adani Power Consolidated EBIDTA rose to Rs 1,793 crore in Q3FY15, Up by 58%

Editor’s Synopsis:

• Consolidated Total Income for Q3FY15 increased by 31% to Rs 5,504 crore Vs Rs 4,190 crore in Q3FY14

• Consolidated EBIDTA for Q3FY15 increased by 58% to Rs 1,793 crore Vs Rs 1,133 crore in Q3FY14

• Consolidated Net Loss for Q3FY15 Rs 429 crore Vs Q3FY14 Rs 545 Crore

• The Company sold 14.73 billion units during Q3FY15 Vs 11.18 billion units in Q3FY14

• Adani Power has signed a binding term sheet to acquire 100% stake in Korba West Power Company Limited

Adani Power Ltd, a subsidiary of Adani Enterprises Ltd and a part of Adani Group, today announced the financial results for the third quarter ended December 31, 2014.

Consolidated total income for the quarter increased by 31% to Rs 5,504 crore compared to Rs 4,190 crore in the same period previous year. The consolidated EBIDTA increased by 58% to Rs 1,793 crore compared to Rs 1,133 crore in the same period previous year. EBIDTA for the quarter improved due to higher volume of power sold and improved operational efficiencies.

Consolidated total income for the nine months period increased by 52% to Rs 14,877 crore compared to Rs 9,772 crore in the same period previous year. The consolidated EBIDTA increased by 97% to Rs 4,723 crore compared to Rs 2,395 crore in the same period previous year. The consolidated net loss reduced to Rs 1,531 crore.

Commenting on the Third Quarter results of the Company Mr. Gautam Adani, Chairman, Adani Power said, “With the policy initiatives of the government and positive macro-economic environment, the outlook of the power sector is likely to improve significantly. The revival of the power sector gives Adani Power an opportunity to participate in the consolidation of the power industry and also with thrust being given by the government towards the renewable energy power generation, provides immense opportunities and potential for growth to the company.”

Mr. Vneet Jaain, Chief Executive Officer of Adani Power, said, “Our result reflects higher volume of power generation, improved PLF at all plants, relatively lower coal cost and improved operational efficiencies which were partially offset by the PPA prices being non-remunerative coupled with limited availability of domestic coal. However, with implementation of policy measures, implementation of tariff orders and likelihood of improved domestic coal availability, we are confident of better performance in ensuing quarters.”

About The Adani Group

The Adani Group is one of India’s leading business houses with revenue of over $9.4 billion.

Founded in 1988, Adani has grown to become a global integrated infrastructure player with businesses in key industry verticals - resources, logistics and energy. The integrated model is well adapted to the infrastructure challenges of the emerging economies.

The Group has also made significant inroads in the agri-infrastructure business by setting up grain storage silos and cold storage facilities, catering to storage of apples from Himachal Pradesh. We are a market leader in edible oil business with our Fortune brand of oil leading the pack.

We live in the communities where we operate and take our responsibility to society, seriously. Through Adani Foundation, we ensure development and progress is sustainable and inclusive; not just for the people living in these areas, but the environment on the whole. At Adani, we believe in delivering benefits that transcend our immediate stakeholders.

Resources means obtaining coal from mines and trading; in future it will also include oil and gas production.

Adani is developing and operating mines in India, Indonesia and Australia as well as importing and trading coal from many other countries. Currently, we are one of the largest coal importers in India. We also have extensive interests in oil and gas exploration. Our extractive capacity has increased threefold to 4 MMT in 2014 and we aim to extract 200 MMT per annum by 2020, thereby making Adani one of the largest mining groups in the world.

Logistics denotes a large network of ports, Special Economic Zone (SEZ) and multi-modal logistics - railways and ships.

Adani owns and operates six ports and terminals – Mundra, Dahej and Hazira in Gujarat, Dhamra in Orissa, Mormugao in Goa and Visakhapatnam in Andhra Pradesh, India. Mundra Port, which is the largest port in India, benefits from deep draft, first-class infrastructure and SEZ status. It crossed the 100 MMT mark of cargo handling in FY14. Adani is also developing ports at Tuna Tekra, Kandla in Gujarat and Ennore in Tamil Nadu, India.

 Energy involves power generation & transmission and gas distribution.

Adani is the largest private thermal power producer in India with installed capacity of 9,280 MW.

Our three power projects are spread out across the Gujarat, Maharashtra and Rajasthan.

We also provide a range of reliable and environment friendly energy solutions, in the form of CNG and PNG. In fact, the above-mentioned installed capacity also includes a 40 MW solar plant at Bitta, Gujarat.