Adani Power Limited on Thursday posted a multi-fold jump in its consolidated net profit in the third quarter of FY 2022-23, which stood at Rs 2,738 crore. The profit sharply rose as compared to Rs 9 crore during the year-ago period.
The company’s revenues went up 67% during the quarter to Rs 12,991 crore from Rs 7,764 crore in the corresponding quarter of the fiscal year.
SB Khyalia, CEO, Adani Power, said, “The company’s strategically located power plants and optimal capacity allocation between PPAs and merchant capacities, coupled with its strength in fuel management & logistics and excellence in power plant Operations and Maintenance, have allowed it to address growing power demand and generate robust profitability. This has resulted in improved liquidity, which has in turn been utilized to reduce debt.”
According to the company CEO, the ongoing brownfield capacity expansion of 1,600 MW at Mahan is on track.