Adani in the news

Adani Power Q2 FY12 PAT up by 40% at Rs 177 crore, Revenue up by 171% at Rs 1,072 crore
November 11, 2011

Adani Power Ltd, a subsidiary of Adani Enterprises Ltd and part of India’s leading integrated infrastructure conglomerate, the Adani Group, today announced the financial results for the quarter and half-year ended September 30, 2011.

Net profit for Q2 FY12 rose by 40% to Rs 177 crore, as compared to Rs 126 crore in the corresponding quarter last year. The EBIDTA margin for the September quarter was at 48% as against 58% in Q2 FY 11. Earnings per Share for Q2 FY12 worked out at Rs 0.81 as compared to Rs 0.58 per share for the same period of last fiscal.

Net sales for the quarter ended September 30, 2011 stood at Rs 1,072 crore, registering a growth of 171%, as compared to Rs 395 crore in the same period last year.

For the half year ended September 30, 2011, the company clocked a net profit of Rs 354 crore compared to Rs 240 crore for the corresponding period last fiscal. Net sales during the H1FY12 stood at Rs 1,891 crore, against Rs 748 crore in the same period previous year.

Commenting on the financial performance of the company Gautam Adani, Chairman, Adani Group said, “We are pleased with the company’s performance during the quarter and our topline numbers are reflective of our business model. Adani Power’s growth trajectory is well fuelled and we hope to maintain our leadership position as India’s leading private thermal power producer.”

Sharing the strategy for the coming quarters, Prabal Banerji, CFO, Adani Power further added, “The Mundra project is well on track and we hope to achieve full target of 4,620 MW by end of this fiscal. Indonesian coal reference price and a domestic fuel shortage hurting linkage plans are some major issues for the company as well as for the industry but we are confident to maintain our growth pace.”

Adani Power plans to synchronise two units each of 660 MW, based on the supercritical technology, at Tiroda in Maharashtra in the current fiscal. It will also commission the remaining capacity at Mundra to reach 4,620 MW by end of this fiscal. The Company is confident of achieving about 6,000 MW operational capacity in the FY 2011-12 out of the total planned 16,500 MW capacity that is under development.

Financial Performance (Rs in crore)

ParticularsQ2 FY12Q2 FY11Growth (%)H1 FY12H1 FY11Growth (%)
Net Sales1,0723951711,891748153
EBITDA519228128932441111
Net Profit1771264035424048
Gross Generation (Mil Units)3,2981,4951216,4882,648145
Units Sold (Mil)2,9591,3341225,8572,364148
Average Realisation(per kWh)3.622.96223.233.162