Business News | Adani Power Reports 38% Rise in Consolidated Power Sales During Apr-Jun Quarter
Get latest articles and stories on Business at LatestLY. Adani Power reported consolidated power sale volume at 24.1 billion units during the April-June quarter, up by 38 per cent from 17.5 billion units registered in the same quarter of 2023.
Ahmedabad (Gujarat) [India], July 31 (ANI): Adani Power reported consolidated power sale volume at 24.1 billion units during the April-June quarter, up by 38 per cent from 17.5 billion units registered in the same quarter of 2023.
The Adani Group company attributed the rise to improved power demand and larger effective operating capacity.
The company reported consolidated continuing total revenue higher by 30 per cent at Rs 15,052 crore versus Rs 11,612 crore in the same quarter of last year, mainly due to higher sales volumes.
Consolidated continuing EBITDA for the April-June quarter grew by 53 per cent to Rs 6,290 crore versus Rs 4,121 crore for the same quarter of 2023, due to higher revenues and lower import fuel prices.
Adani Power Ltd., part of Adani Group companies, today announced the financial results for the first quarter that ended in June 2024.
"As Adani Power grows from strength to strength, we have undertaken advance development activities to secure execution pipelines for three Ultra-supercritical projects of 1,600 MW each to prepare ourselves for the anticipated resurgence in the thermal power sector," said SB Khyalia, CEO, Adani Power.
"Our strategic focus is to derisk our growth plans by utilizing high efficiency, low emission technologies, pooling our deep experience and multi-domain expertise for project development, securing access to fuel resources, and revitalizing the organization to become more agile and competitive in the digitalized world."
"Adani Power is dedicated to enhancing lives and ensuring India's energy security by proactively addressing the need for sustainable, affordable, and reliable power, while also being a responsible steward of the environment and surrounding communities."
Power demand is continuing to exhibit strong growth across India, with aggregate power demand in the first quarter growing at 10.6 per cent year-on-year and peak demand growing at 12 per cent to reaching a record level of 250 GW.
According to Adani Power, this positive environment for the power sector has resulted in higher offtake from Adani Power's power plants from both contracted capacities and open capacities.
During April-June 2024-25 quarter, higher volumes were contributed by almost all plants led by Mundra and Mahan in addition to Godda, the second 800 MW unit of which was commissioned in June 2023.
The Adani Group 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. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)