Adani Power
During the quarter, Adani Power reported a significant surge in revenue, marking a remarkable 29% year-on-year growth to ₹13,787 crore. Additionally, the EBITDA more than doubled year-on-year, reaching ₹5,273 Crore, indicating a strong performance in operational earnings.
Gautam Adani-led company also announced the appointment of Sangeeta Singh as an Additional Director (Non-Executive, Independent) for an initial tenure of 3 years. Singh brings a wealth of experience, having served in diverse roles, including as a Member of the Central Board of Direct Taxes (CBDT) and as Principal Chief Commissioner of Income Tax.
The consolidated power sale volume for FY24 stood at 79.3 BU, a notable increase of 48% from FY23, attributed to improved power demand, lower import coal prices, and expanded installed capacity.
Gautam Adani, Chairman of the Adani Group, expressed confidence in India’s transition to a sustainable energy future. He highlighted Adani Power’s role in providing innovative, reliable, and scalable solutions to support the nation’s economic growth and meet the aspirations of its citizens.
The operating performance for Q4 FY 2023-24 included the commissioning of the 1600 MW Godda Ultrasupercritical Thermal Power Plant of APL’s subsidiary Adani Power (Jharkhand) Limited (APJL) in Q1 FY 2023-24.
Adani Power recorded a higher one-time income recognition of ₹9,322 crore for FY24 compared to ₹5,772 crore for FY23, driven by increased collection of late payment surcharges.
S B Khyalia, CEO of Adani Power Limited, commended the company’s outstanding quarter, marking a year of exceptional operational and financial performance. He emphasized Adani Power’s commitment to enhancing reliability, reducing generation costs, and improving plant efficiency to contribute to India’s energy security.
Adani Power remains dedicated to empowering lives and ensuring sustainable, affordable, and reliable power supply for India’s future.
To read more such news, download Bharat Express news apps
