Performance during Q2 FY 2019-20

During the second quarter of FY 2019-" />
Performance during Q2 FY 2019-20

During the second quarter of FY 2019-" />
Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Adani Power Limited - Consolidated Results for Q2 and H1 FY 2019-20

Posted On: 2019-11-13 21:05:56


Adani Power Ltd. ("APL"), a part of the Adani Group, today announced the financial results for the quarter and half year ended September 30th, 2019.

Performance during Q2 FY 2019-20

During the second quarter of FY 2019-20, APL and its subsidiaries (excluding recent acquisitions of REL and REGL) achieved an Average Plant Load Factor (PLF) of 63% and sales volume of 13.6 BU, as compared to a PLF of 65% and sales volume of 14.6 BU recorded in the second quarter of FY 2018-19. This lower performance was primarily a result of lower grid demand and higher renewable energy generation.

Consolidated Total Income for Q2 FY 2019-20 stood at Rs. 6,815 Crore, as compared to Rs. 7,657 Crore in Q2 FY 2018-19. This includes revenue recognition towards compensatory tariff and carrying cost of Rs. 805 Crore in Q2 FY 2019-20, as compared to Rs. 1.164 Crore in Q2 FY 2018-19.

The EBITDA for Q2 FY 2019-20 stood at Rs, 2,248 Crore. as compared to Rs, 2.806 Crore in Q2 FY 2018-19. due to lower vol umes and compensatory tariff.

Depreciation charge for Q2 FY 2019-20 was at Rs. 765 Crore. as compared to Rs, 697 Crore in Q2 FY 2018-19, after incorporating the consolidation of REL and REGL during the course of the quarter.

The Profit before tax for Q2 FY 2019-20 was Rs, 158 Crore. as compared to Rs, 702 Crore for Q2 FY 2018-19. The Total Comprehensive Income after Tax was Rs. 3 Crore for Q2 FY 2019-20. as compared to Rs. 387 Crore for Q2 FY 2018-19.

Performance during H1 FY 2019-20

During the six months ended 30th September 2019, APL and its subsidiaries (excluding recent acquisitions of REL and REGL) achieved an Average Plant Load Factor (PLF) of 69% and sales of 30,1 Billion Units (BU). as compared to a PLF of 52% and sales volume of 22,8 BU in the six months ended 30th September 2018. This 32% growth in sales volume was due to improved availability of domestic coal at the Tiroda and Kawai plants, and mitigation of the issue of high import coal prices through the implementation of the High Powered Committee's recommendations, which helped the Mundra plant operate at a higher PLF as compared to the corresponding period of FY 2018-19. This growth was partially offset by lower generation at the Udupi plant owing to lower grid demand due to the heavy monsoons. and higher generation from renewable energy sources in Karnataka.

Consolidated Total Income for the first half of FY 2019-20 grew by 28% to Rs, 14.830 Crore. as compared to Rs, 11,617 Crore for the first half of FY 2018-19, This includes additional revenue recognition towards compensatory tariff and carrying cost of Rs, 1,477 Crore in H1 FY 2019-20. as compared to Rs.1.205 Crore in H1 FY 2018-19.

Consolidated EBITDA for H1 FY 2019-20 grew by 26% to Rs. 5.142 Crore as compared to Rs, 4.095 Crore for H1 FY 2018-19 due to a higher level of operations.

Depreciation charge for H1 FY 2019-20 was Rs. 1,455 Crore. as compared to Rs. 1,377 Crore in H1 FY 2018-19, after incorporating the consolidation of REL and REGL during the course of the second quarter of FY 2019-20.

During H1 2019-20, Exceptional Items of Rs. 1,003 Crore were recognized pertaining to the write-off of certain receivables and advances, owing to the acceptance of the Resolution Plan submitted by the Company for the acquisition of the Korba West Power Co. Ltd.

The Profit Before Tax for H1 2019-20 was Rs. 36 Crore, as compared to a Loss Before Tax of Rs. (-) 51 Crore in H1 2018-19. Total Comprehensive Loss for H1 2019-20 was Rs. (-) 262 Crore, as compared to Rs. (-) 437 Crore for H1 FY 2018-19.

Commenting on the quarterly results of the Company, Mr. Gautam Adani, Chairman, Adani Group said. "Adani Power is forging ahead in its quest to establish itself as a key supplier of reliable and affordable electricity in India. The private sector has played an important role in strengthening India's economic fundamentals, and helping improve the prosperity of the masses. We are highly optimistic about the nation's long term economic outlook, and look forward to a continuing series of reforms in the power sector, which will encourage private sector investments. The Adani Group remains committed to sustainable growth and being an active contributor to nation building."

Mr. Vneet S Jaain, CEO, Adani Power Limited, said, "The recently concluded quarter has seen significant positive developments with long term implications. We have completed the acquisition of two strategically located power plants with aggregate capacity of 1,970MW, and received important judicial approvals and regulatory orders for Mundra. Tiroda, and Kawai. These developments together will facilitate growth and create substantial shareholder value, and we are now focusing on enhancing the profitability of our entire portfolio. We are fully committed to keeping our promise to all stakeholders, with an emphasis on efficiency, safety, and sustainability."

Shares of ADANI POWER LTD. was last trading in BSE at Rs.63.35 as compared to the previous close of Rs. 67.3. The total number of shares traded during the day was 1665777 in over 3153 trades.

The stock hit an intraday high of Rs. 67.5 and intraday low of 62.3. The net turnover during the day was Rs. 107201049.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Apollo Tyres aims for leadership in premium two-wheeler segment in India

Jaysynth Dyestuff India Ltd Board recommends Dividend of Rs. 0.15 for FY20

Jio Platforms receives over Rs. 1.5 lakh crore investment in 3 months

World Youth Skills Day: TCS iON Launches Youth Employability and Entrepreneurship Programme

ICICI Securities Primary Dealership Ltd Q1FY21 net profit surges to Rs. 345.08 crore

Federal Bank Ltd Q1FY21 consolidated PAT higher at Rs. 409.50 crore

Google to invest Rs. 33,737 crore in Jio Platforms Ltd

Indian Metals & Ferro Alloys Ltd postpones board meeting to July 27, 2020

Trigyn awarded - National Cooperative Purchasing Alliance (NCPA) - IT Services Contract

IFGL Refractories Ltd board to consider Q4FY20, FY2020 results, final dividend on July 18, 2020

Bandhan Bank Ltd reports Q1FY21 net profit of Rs. 549.81 crore

TCS Now Second Largest Among UK Software and IT Services Companies

Zydus Cadila receives final approval from USFDA for Betamethasone Dipropionate Ointment

Tata Consumer Products Ltd board to approve Q1FY21 results on Aug 4, 2020

Maruti Suzuki to proactively recall 134,885 units of WagonR and Baleno

NELCO Ltd board to approve quarterly results on July 31, 2020

Sonata Software Ltd board to announce 1st quarter results on Aug 10, 2020

Steel Strips Wheels Ltd bags news orders for mobile home market from USA

Havells India Ltd board to consider Q1FY21 results on July 27, 2020

Zydus starts the Human Dosing for Adaptive Phase I & II clinical trials

Chinese firm announces open offer to acquire shares of Thirdwave Financial Intermediaries Limited

Majesco Enables United Educators Digital Transformation Journey

Aarti Surfactants Ltd FY20 PAT at Rs. 2.09 crore

ICRA Limited Board approves audited financial results for Q4, FY2020

Oriental Hotels Ltd board to approve first quarter results on July 28, 2020

Indiamart Intermesh Ltd board to announce quarterly results on July 21, 2020

Bharti Infratel Ltd board to consider 1st quarter results on July 27, 2020

Monnet Ispat & Energy Ltd board to approve Q1FY21 results on July 21, 2020

ICRA Ltd Board approves Dividend of Rs. 27 for FY20

Vanguard and Infosys announce strategic partnership

India Ratings Downgrades HEG to 'IND AA-'/Stable

Prestige Estates subsidiary acquires equity stake in DB (BKC) Realtors Private Limited

Gujarat Hotels Ltd posts Rs. 0.87 crore PAT in Q1FY21

Oberoi Realty Ltd Q1FY21 consolidated PAT slides to Rs. 28.07 crore

YES Bank approves allocation of 3,415,384,614 Equity Shares to anchor investors

National Peroxide Ltd Board approves dividend of Rs. 12.50

Oberoi Realty Ltd board approves fund raising proposals

Suzlon Energy Limited allots 51,19,92,560 shares

CreditAccess Grameen Limited board to consider terms of NCD issue on July 17, 2020

IDFC First Bank Ltd board to announce Q1FY21 results on July 28, 2020

Oberoi Realty Ltd Q4FY20 consolidated PAT climbs to Rs. 250.96 crore

National Peroxide Ltd Q4FY20 net profit at Rs. 3.03 crore

AAI, BEL sign MoU for co-operation in Civil Aviation industry

Godrej Properties Ltd board to announce Q1FY21 results on Aug 5, 2020

Hero MotoCorp announced as the Title Partner of Hero Open

Opto Circuits India Ltd sinks to FY2020 loss of Rs. 1367.86 crore

Emami group completes stake sale in Emami Cement

ICICI Securities Ltd board to approve 1st quarter results on July 22, 2020

Chambal Fertilisers & Chemicals Ltd board to announce Q1FY21 results on July 29, 2020

Salasar Techno Engineering Ltd updates on tower supply agreement







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019