Adani Power (APL) announced a net loss of Rs 426 crore on a standalone basis and a total income of Rs 1,747 crore during Jan-Mar 2013. The total income rose 75 per cent from the year-ago period.
The company incurred loss because of higher prices of imported coal and transmission constraints, reports suggest.
The company posted an EBIDTA of Rs 522 crore, which is 151 per cent higher from the previous year period.
During 2012-13, the firm posted a net loss of Rs 1,952 crore compared with last fiscal’s Rs 294 crore, on a standalone basis.
Going forward, the firm expects better results owing to the Central Electricity Regulatory Commission (CERC)'s order on power tariff. The firm feels that the order is a “step forward to resolve the tariff issue as it will be in the best interests of all stakeholders and consumers.
The developmental mindset of the government is set to benefit the power sector as a whole, and in particular, the players which will have large power generating capacity in future, the firm said in a statement.
The consolidated total income in 2012-13 increased 66 per cent to Rs 6,779 crore (Rs 4,092 crore), while net loss stood at Rs 2,295 crore (Rs 294 crore).
The EBIDTA decreased by 22 per cent to Rs 1,150 crore (Rs 1,475 crore). In 2012-13, the company sold 20.69 billion units (12.4 billion units).
The South Eastern Coal Fields entered into a fuel supply agreement with Adani Power Maharashtra (APM) for the latter's Tiroda plant, enabling it to procure 4.2 million tonne of coal.
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