Total Income for Q3 FY 2022 was Rs 5,594 crore, down by 21% as compared to Rs 7,099 crore in Q3 FY 2020-21.

The company said that low volumes contributed to lower recurring revenues in case of Mundra and Kawai on account of regulation of power supply due to payment defaults by DISCOMs, and in case of Udupi due to merit order dispatch pursuant to higher imported coal prices. On the other hand, Tiroda contributed improved revenues on back of higher volumes. Raigarh and Raipur plants contributed higher revenues despite lower volumes due to higher merchant and short-term tariffs during Q3 FY22.

EBITDA for Q3 FY22 was Rs 2,003 crore, higher by 9.6% as compared to Rs 1,827 crore in Q3 FY21, mainly on account of improved contribution from merchant and short-term sales.

Adani Power said that capacity utilization was impacted in Q3 FY22 due to shortage of domestic coal and high prices of imported coal. The Tiroda plant was the only plant to report an increase in capacity utilization, whereas the Udupi plant was shut down for the entire quarter due to backdown by Karnataka DISCOMs on account of high import coal prices.

During Q3 FY 2021-22, APL achieved a consolidated average plant load factor (PLF) of 40.9% and sales volume of 10.5 billion units (BU), as compared to a PLF of 75.1% and sales volume of 19.1 BU recorded in Q3 FY21.

Anil Sardana, managing director, Adani Power, said, "Adani Power is forging ahead in extending its lead among private sector thermal power producers. Our strategically located and operationally efficient power plants stand ready to service the growing demand for power with a reliable and cost-effective supply.

We are certain that the imminent resolution of various regulatory matters pertaining to our power plants will pave the way for enhancing our liquidity position and bring closure to the long outstanding issues.”

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.