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Adani Power Limited Announces Q4 FY19 Results with Increase of 25% Income

In Business
May 30, 2019

AHMEDABAD:
Adani Power Ltd, a part of Adani Group, today announced the financial results for the quarter and financial year ended March 31, 2019.

Consolidated total income for the year FY19 stood 25% higher at Rs. 26,362 crore as compared to Rs. 21,093 crore in FY18. Consolidated total income for the quarter was higher by 94% at Rs. 8,078 crore, as compared to Rs. 4,161 crore in the corresponding quarter in the previous year.

Consolidated EBITDA for the year grew by 20% at Rs. 7,431 crore from Rs. 6,190 crore in FY18. Consolidated EBITDA for Q4FY19 was 39% higher at Rs. 1,964 crore, as compared to Rs. 1,414 crore in the corresponding quarter in the previous year. The Central Electricity Regulatory Commission (CERC), on 12 th April 2019, has approved the Supplementary Power Purchase Agreements (SPPAs) signed by the Company’s wholly owned subsidiary, Adani Power (Mundra) Ltd. (APMuL), which operates the 4,620 MW power plant at Mundra, Gujarat, with the Gujarat Urja Vikas Nigam Ltd. (GUVNL). The SPPAs were signed pursuant to the High Power Committee Report adopted by the Government of Gujarat, and allow APMuL to recover fuel costs as pass through due to change in Indonesian regulations, subject to conditions, from the power procurer.

Units sold in FY19 were 15% higher at 55.2 BUs as compared to 48.0 BUs in FY18. Units sold during Q4 FY19 were 16.6 BUs as compared to 7.9 BUs during Q4 FY18, a growth of 110%. Average Plant Load Factor (PLF) achieved during FY19 was 64%, as compared to 55% achieved in FY18. Average Plant Load Factor (PLF) achieved during Q4FY19 was 79%, as compared to 37% achieved in Q4 FY18.

Commenting on the annual results of the Company, Gautam Adani, Chairman, Adani Group said, “Recent months have seen a veritable transformation in India’s electricity sector regulation, which will go a long way in restoring the financial robustness of private sector power plants, and supporting economic growth through reliable and affordable power supply to the end consumers. The Adani Group, with its established Pit-to-Plug presence, is confident of leveraging its strengths to achieve its long term goals, and contributing significantly to nation building.”