Consolidated total income for Q2 FY 2021-22 at Rs 5,572 crore, was lower by 36.6% as compared to Rs 8,792 crore in Q2 FY 2020-21. The income for Q2 of previous year included higher one-time revenue recognition by Rs 3,233 crore on account of various regulatory orders.

EBITDA for Q2 FY2022 fell 69.5% to Rs 1,551 crore from Rs 5,086 crore in Q2 FY 2021, mainly on account of lower one-time income and forex movement.

The company reported a pre-tax loss of Rs 210 crore in Q2 FY22 as against a pre-tax profit of Rs 2,894 crore in Q2 FY21.

The company recorded 96.9% fall in consolidated net profit to Rs 47.62 crore in Q2 FY22 from Rs 1,545.59 crore in Q2 FY21. Consolidated total income for the first half of FY 2021-22 stood at Rs 12,785 crore, down by 9.6% as compared to Rs 14,148 crore in H1 FY 2020-21.

Adani Power said that the electricity demand in India has continued to be strong as a result of improving economic performance in FY 2021-22.

Aggregate energy demand for H1 FY 2021-22 across the nation was 708.8 billion units (BU), registering a growth of 13% over the energy demand for H1 FY 2020-21 at 627.6 BU.

Similarly, peak power demand registered a growth of 13% to reach a record level of 203 GW in H1 FY 2021-22, as compared to 197 GW in H1 FY 2020-21. Energy deficit was stable at 0.3% in H1 FY 2021-22, while peak power deficit increased to 1.2% during the period, as compared to 0.2% in the corresponding period of FY 2020-21.

Widening of peak deficit, along with fuel supply constraints due to an extended monsoon season, have resulted in a sharp rise in merchant and short-term tariffs.

During the six months ended 30 September 2021, APL and its subsidiaries achieved an average Plant Load Factor (PLF) of 56.7% and sales of 28.5 BU, as compared to a PLF of 50.4% and sales volume of 25.3 BU in the six months ended 30th September 2020, on account of improved performance in the first quarter of the current year.

Anil Sardana, managing director, Adani Power, said, "Thermal power continues to be the balancing force between renewables' availability during part of the day and grid demand. Coal power continues to be a requirement for economic growth, with a reliable and cost-effective power supply, enabling the fruits of development to be delivered to the farthest reaches of the nation and to its disadvantaged sections.

While India marches in step with global targets towards long term targets of sustainable development and renewable energy, its key national assets of conventional power and fuel supply need to be utilized effectively to strengthen economic resilience and enhance grid stability.”

Adani Power (APL), a part of the diversified Adani Group, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 12,410 MW spread across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh, apart from a 40 MW solar power plant in Gujarat.

The scrip shed 0.77% to end at Rs 102.75 on the BSE today.