Adani Power reported a significant decline in its net profit for the first quarter, showing a 55% decrease year-on-year. However, the company also experienced an increase in revenue, highlighting a mixed performance amid growing power demand in India.
Key Highlights:
– Net Profit:
– Q1 Net Profit: ₹3,900 crore
– Previous Year Q1 Net Profit: ₹8,759 crore
– Change: -55%
– Revenue:
– Q1 Revenue: ₹14,717 crore
– Previous Year Q1 Revenue: ₹11,005 crore
– Change: +36%
– Power Demand Growth:
– Aggregate power demand growth: 10.6% YoY
– Peak power demand growth: 12% YoY, reaching 250 GW
Company Overview:
Adani Power is a major private thermal power producer in India, with a total thermal capacity of 15.25 gigawatts (GW). Additionally, the company operates a significant solar power plant with a capacity of 40 megawatts (MW) in Naliya, Bitta, Kutch, Gujarat.
Financial Metrics:
| Metric | Q1 FY24 | Q1 FY23 | Change (%) |
|---|---|---|---|
| Net Profit (₹ Cr) | 3,900 | 8,759 | -55% |
| Revenue (₹ Cr) | 14,717 | 11,005 | +36% |
Despite the drop in profit, the company benefits from a positive market environment, with higher offtake from its power plants. This growth is driven by both contracted and open capacity usage.
Market Position:
– Thermal Power Capacity: 15.25 GW
– Solar Power Capacity: 40 MW
– Market Capitalization: ₹2.8 lakh crore
Currently, there is no analyst coverage for Adani Power’s stock, indicating a lack of formal ratings or recommendations.
