Adani Power Consolidated EBIDTA Rose to Rs. 1,246 crore in Q2FY15, up by 64%

Editor’s Synopsis:

• Consolidated Total Income for Q2FY15 increased by 36% to Rs 4,148 crore Vs Rs 3,045 crore in Q2FY14

• Consolidated EBIDTA for Q2FY15 increased by 64% to Rs 1,246 crore Vs Rs 759  crore in Q2FY14

• Consolidated Net Loss for Q2FY15 is reduced to Rs 799 crore from Rs 1,072  crore Q2FY14

• The Company sold 10.49 billion units during Q2FY15 Vs 9.07 billion units in Q2FY14

Adani Power Ltd, a subsidiary of Adani Enterprises Ltd and a part of Adani Group, today announced the financial results for the second quarter ended September 30, 2014.

Consolidated total income for the quarter increased by 36% to Rs 4,148 crore compared to Rs 3,045 crore in the same period last year. The consolidated EBIDTA increased by 64% to Rs 1,246 crore compared to Rs 759 crore in the same period last year. EBIDTA for the quarter improved due to higher volume of power sold and improved operational efficiencies.  Increased EBIDTA resulted in lower consolidated net loss of Rs 799 crore in Q2FY15 as compared to Net Loss of Rs 1072 crore in Q2FY14.

Consolidated total income for the Half year increased by 68% to Rs 9,373 crore compared to Rs 5,581 crore in the same period last year. The consolidated EBIDTA increased by 129% to Rs 2,891 crore compared to Rs 1,263 crore in the same period last year. The consolidated net loss reduced to Rs 1,102 crore.

Commenting on the Second Quarter results of the Company Mr. Gautam Adani, Chairman, Adani Power said, “Power sector revival is the top priority of the new Government and this has been demonstrated through the various announcements made to implement radical measures which are heartening for the power sector at large. The ordinance for the coal block auction, measures for easing financing to the power and infrastructure project and other policy initiatives which are planned, will revive the power sector.”

Mr. Vneet Jaain, Chief Executive Officer of Adani Power, said, “Our result reflects higher volume of power generation and improved operational efficiencies which were off-set by the challenges in business that have led to PPAs becoming non-remunerative coupled with limited availability of domestic coal. However, with implementation of policy measures, implementation of tariff orders and improving operational efficiencies, we are confident of revival in our power business performance. The company has achieved thermal power generation capacity of 9,240 MW.”

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.

We live and work in the communities where we operate and take our responsibilities to society seriously. The Group protects biodiversity in ecologically sensitive areas like Mundra and undertakes initiatives to reduce CO₂ emissions. At Adani, we deliver benefits to our customers and customers’ customers.

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. Extractive capacity is scheduled to 200 MMT per annum by 2020.

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. Our power generation capacity is 9,280 MW. Our Power Projects are spread out across the states of 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