Adani Power Q3 net loss lower at Rs 1,181 cr

Pulled down by issues affecting the sector, Adani Power on Wednesday reported a net loss of Rs 1,180.78 crore for the third quarter ended in December, although the loss was lower as compared to what the company had suffered in the same quarter last year. The Adani Group subsidiary had borne a net loss of Rs 1,313.74 crore in the corresponding quarter last year.

The company's total expenditure during the quarter in consideration increased to Rs 7,507.61 crore, from Rs 6,223.58 crore in the same quarter of the previous fiscal. The company's finance costs during the quarter in review stood at Rs 1,531 crore, as compared to Rs 1,411 crore in the corresponding period of the previous fiscal.

Adani Power revenue from operations during the October-December quarter increased 31.70 per cent to Rs 6,380.33 crore, from Rs 4,844.46 crore in the same period of 2017-18. Consolidated earning before interest, tax, depreciation and amortisation (Ebitda) grew by 77 per cent to Rs 1,372 crore, from Rs 777 crore in the third quarter of the last fiscal, on higher revenues and lower administrative costs.

With the results being declared early in the day, the Adani Power stock closed higher on Wednesday at Rs 38.05 a share, up 30 paise, or by 0.79 per cent, from its previous close on the BSE.