KSEBOA - KSEB Officers' Association

Tuesday
Jun 27th
Text size
  • Increase font size
  • Default font size
  • Decrease font size
Home News Power Sector News Lower demand widens Adani Power's Q3 standalone loss 16-fold to Rs 478 crore

Lower demand widens Adani Power's Q3 standalone loss 16-fold to Rs 478 crore

PDF
Hits smaller text tool iconmedium text tool iconlarger text tool icon

Adani PowerNon-availability of domestic fuel linkages and lower power demand has led to Adani Power Limited (APL)'s standalone net loss widening Rs 478.39 crore for the quarter ended December 31, 2016 for the financial year 2016-17, the company said in its filing on BSE.

As against this, the power arm of the Adani Group had a standalone net loss of Rs 30.24 crore for the same quarter last year.

The company's standalone total income for Q3 of FY17 too fell to Rs 3,063.97 crore, from Rs 3,195.23 crore of Q3 in the previous fiscal.

As per the communique, EBIDTA during the quarter fell by 15.9 per cent from Rs 2,030 crore in Q3 FY16 to Rs 1,708 crore in Q3 FY17, mainly due to lower merchant tariff and prior quarter income recognized in Q3 FY16. On the other hand, finance costs increased from Rs 1,318 crore in Q3 FY16 to Rs 1,430 crore in Q3 FY17 on account of higher working capital utilisation and impact of mark to market on foreign currency derivatives.

According to the company, lower EBIDTA and higher finance costs resulted in APL posting a consolidated net loss of Rs 323.61 crore of Q3 FY17 as compared to net profit of Rs 109.49 crore in Q3 FY16.

Adani Power's total consolidate income fell from Rs 6,210.76 crore for the quarter ended December 31, 2015 to Rs 5,872.57 crore for the quarter ended December 31, 2016, on account of lower plant load factor (PLF).

According to Vneet Jaain, Chief Executive Officer of Adani Power, the results have come at a time when the company was facing challenges in terms of non-availability of domestic fuel as well as lower demand for power.

"During Q3 of FY 2016-17, we have been able to maintain high levels of plant availability factor, with all round improvements in operational efficiencies. We are navigating a challenging environment which is marked by non-availability of domestic fuel linkages, regulatory complexity, and lower power demand. These challenges are temporary deterrents which shall be resolved with intervention of key stake holders and the company is hopeful of achieving its long term vision," said Jaain, as per an official communique by APL.

Jaain further stated that the company was working towards cost optimisation and operational efficiency improvements which are aimed to keep the organisation "nimble". "The company is well positioned to capitalise on opportunities arising from better fuel availability, reduction in financial distress of discoms and lower interest rate regime," Jaain added.

Meanwhile, commenting on the quarterly results of the company, Gautam Adani, Chairman, Adani Power said, "As the Indian economy continues to outpace the global economy steadily, overcoming numerous challenges, Adani Power is firmly positioned to achieve its future growth plans and contribute significantly to nation building by providing electricity at competitive rates."

However, Adani Power's net loss resulted in the company's share price on BSE falling by 11.48 per cent.

Source-

 

Add comment


Security code
Refresh

Random Videos

You need Flash player 6+ and JavaScript enabled to view this video.
Title: Power Quiz 2015 Final - Part-1

Latest Comments

Banner

Reference Book

 

Reference Book on Power

Electrical Engineering-- D' 1/4 Size Hard bound-- 1424 Pages-- Just Rs.1000/- only &n...

Visitors Counter

mod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_countermod_vvisit_counter
mod_vvisit_counterToday2597
mod_vvisit_counterYesterday5545
mod_vvisit_counterThis Month134499
mod_vvisit_counterLast Month149108

Online Visitors: 81
IP: 54.162.237.53
,
Time: 12 : 30 : 05