Adani Power’s consolidated net profit jumped manifold to Rs 4,645.47 crore in the March quarter from Rs 13.13 crore in the year-ago period, mainly on account of higher revenue. The company’s total income grew 93 per cent to Rs 13,308 crore in the March quarter from Rs 6,902 crore in the year-ago period.
“The revenue for the fourth quarter of FY 2021-22 includes pre-period revenue from operations of Rs 2,946 crore and pre-period other income of Rs 1,982 crore,” the statement said. The EBITDA for the fourth quarter of FY 2021-22 witnessed a manifold growth to Rs 7,942 crore as compared to Rs 2,143 crore in Q4 FY 2020-21.
“The growth in EBITDA as compared to Q4 FY 2020-21 was aided by pre-period earnings recognition, higher reduction claims on account of higher import coal prices, and higher merchant and short-term tariffs and volumes,” the statement said. was received.” Consolidated net profit for 2021-22 rose to Rs 4,911.58 crore from Rs 1,269.98 crore in 2020-21.
The company’s total income increased to Rs 31,686.47 crore in the last financial year from Rs 28,149.68 crore in the same period a year ago. The company said electricity demand in India continues to grow, driven by both economic growth and heatwaves in the north-western parts of the country.
In addition, recent geopolitical events in Europe have resulted in rapid increases in global fuel prices, including coal, petroleum and natural gas. The total energy demand for 2021-22 across the country stood at 1,380 Billion Units (BU), registering a growth of 8.2 per cent over the energy demand for FY 2020-21. Similarly, peak power demand registered a growth of 6.7 per cent to reach a record level of 203 GW in 2021-22 as compared to FY 2020-21.
The peak power deficit rose to 1.2 per cent during 2021-22, as compared to 0.4 per cent during 2020-21, while the energy deficit was stagnant at 0.4 per cent. This in turn has affected the ability of many thermal power plants in India to generate electricity at a viable cost, limiting their production.
As a result of supply constraints due to increased demand for electricity, the average market clearing (selling) price of electricity on the exchanges increased to Rs 8.23/kWh in the Day Ahead market in March 2022. Adani Group Chairman Gautam Adani said that availability of reliable power supply in various regions across the country is critical for economic development.
“Adani Group is committed to meeting India’s energy needs in a sustainable, reliable and affordable manner. Our diverse presence across the energy value chain helps us ensure that this critical input is always available to power the economy even in times of global instability, and help advance the vision of progress and prosperity for all. Anil Sardana, Managing Director, Adani Power, said that in the years to come, “we will focus on utilizing our fleet to the maximum extent while guiding our acquisitions and greenfield assets to become value-added investments.” will focus”.
“Recent developments on the regulatory front have also removed long-standing uncertainty, which will contribute significantly to enhancing our liquidity position,” he added. The company completed the acquisition of Essar Power MP Limited (EMPPL), a company under insolvency resolution. Insolvency and Bankruptcy Code, dated March 16, 2022. Later the name of EPMPL was changed to Mahan Energy Limited (MEL).
With the acquisition of MEL, APL’s installed thermal power generation capacity has increased to 13,610 MW. During Q4 2021-22 (March quarter), APL along with its subsidiaries’ power plants achieved an average plant load factor [PLF or capacity utilisation] 52.1 percent, and total sales volume 13.1 billion units [BU],
In comparison, during Q4 FY 2020-21, APL and its subsidiaries achieved an average PLF of 59.6 per cent and sales volume of 14.8 BU. Operating performance (under review) during the quarter was impacted due to higher import coal prices and plant overhaul, partially offset by higher power demand in better volumes, it said.
During the financial year ended March 31, 2022, APL along with its subsidiaries’ power plants achieved an average PLF of 51.5 per cent and total sales volume of 52.1 BU. In comparison, APL and its subsidiaries achieved a PLF of 58.9 per cent and sales volume of 59.3 BU in the financial year ended March 31, 2021.
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