The company said the consolidated continuing total revenue for Q2 FY24 is higher by 61 per cent at Rs 12,155 crore, versus Rs 7,534 crore in the same period a year ago, mainly due to greater sales volumes.
This increase in revenue was a result of greater sales volumes including the contribution of the Godda power plant and higher merchant sales, it explained.
Lower import coal prices helped in higher offtake of power under import coal-based Power Purchase Agreements (PPAs) of Mundra and Udupi plants, it stated
Tariffs under these PPAs are determined according to approved regulatory processes and track international coal prices, it stated.
Consolidated power sale volume at 18.1 Billion Units (BU) in Q2 FY24, up by 65 per cent from 11 BU a year ago, due to improved power demand and higher operating capacity, it stated.
Consolidated continuing EBITDA for Q2 FY24 is higher by 202 per cent at Rs 4,336 crore, versus Rs 1,438 crore a year ago, due to greater sales volumes, lower fuel cost, and higher merchant tariffs, it explained.
The operating performance for Q2 FY 2023-24 includes the 1,600 MW Godda Ultra-supercritical thermal power plant of APL's subsidiary Adani Power (Jharkhand) Ltd (APJL), which was commissioned in Q1 FY 2023-24 (April-June 2023).
During the quarter, performance improved due to higher power offtake in Mundra, Udupi, Raipur, and Mahan plants apart from the incremental contribution of Godda, which has ramped up its operations satisfactorily in a short time after commissioning, it stated.
During the six months ended September 30, 2023, Adani Power and its subsidiaries including APJL achieved an average PLF (plant load factor) or capacity utilisation of 59.2 per cent and sales of 35.6 BU, as compared to a PLF of 48.9 per cent and sales volume of 27.3 BU in the six months ended 30th September 2022.
S B Khyalia, CEO, Adani Power said in the statement, "as opportunities in the Indian power market grow, we stand geared to enhance our contribution as the leading private power producer and to meet the nation's growing energy needs."
Adani Power, a part of the diversified
The company has an installed thermal power capacity of 15,210 MW spread across eight power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand, apart from a 40 MW solar power plant in Gujarat.