Revenue from operations surged 84.43% year on year to Rs 12,990.58 crore in the quarter ended 30 September 2023. The company said that the revenue includes one-time prior period items of Rs 1,125 crore on account of domestic coal shortfall.

Consolidated continuing total revenue for Q2 FY 24 stood 61% higher at Rs 12,155 crore, as compared to Rs 7,534 crore in Q2 FY23. This increase in revenue was a result of greater sales volumes including the contribution of the Godda power plant and higher merchant sales.

Consolidated EBITDA for Q2 FY 2023-24 stood at Rs 4,336 crore, as compared to Rs 1,438 crore in Q2 FY 2022-23. EBITDA grew on the back of lower fuel cost, higher merchant tariffs, and inclusion of the Godda power plant.

During the quarter, the company and its subsidiaries achieved an average plant load factor (PLF) of 58.3% and power sales volume of 18.1 billion units (BU), as compared to PLF of 39.2% and power sales volume of 11 BU in Q2 FY23.

Lower import coal prices helped in higher offtake of power under import coal-based Power purchase agreements of Mundra and Udupi plants. Tariffs under these PPAs are determined according to approved regulatory processes and track international coal prices, said the company.

S B Khyalia, CEO, Adani Power, said, “The company’s proven capabilities are being supplemented with the deployment of digitalization, analytics, and cutting-edge technologies to provide stable, reliable, and affordable power supply in a sustainable manner. As opportunities in the Indian power market grow, we stand geared to enhance our contribution as the leading private power producer and to meet the nation’s growing energy needs.”

Adani Power, a part of the diversified Adani Group, is the largest private thermal power producer in India.