Adani Power net profit climbs over 47 per cent; board approves Rs 15,000 crore fund raising plan

Adani Power on Wednesday reported a 4724 per cent rise in its net profit to Rs 486660 crore in the June quarter mainly on the back of higher revenues and strong power demandIn a statement the company said its profit before tax jumped nearly 50 per cent to Rs 630049 crore in Q1 FY27 from Rs 420431 crore in Q1 FY26 on account of improved continuing profitability further supported by higher onetime prior income recognition during the quarterDuring the quarter Adani Power Ltd APL recognised Rs 11769 crore as share of profit from an associate following the acquisition of stake in Jaiprakash Power Ventures LtdConsequently it stated that profit after tax for Q1 FY27 rose 4724 per cent to Rs 486660 crore from Rs 330513 crore in Q1 FY26It also stated that there was a onetime net recognition of revenues pertaining to prior periods of Rs 138634 crore in Q1 FY27 primarily due to revision in historic energy charges under certain PPAs compared to Rs 40621 Crore in Q1 FY26For Q1 FY27 continuing operating revenue increased by 2808 per cent to Rs 1755043 crore from Rs 1370294 crore a year agoThis growth was driven by a significant increase in power demand higher operating capacity and improved tariff realisation it explainedThe rise in power demand higher operating capacity and PPA tieups of previously open capacity such as the Butibori and Mutiara Tuticorin power plants contributed to boost power sale volumes during Q1 FY27 it addedPower sales under PPAs grew by 303 per cent to 245 billion Units BU while tariff realisation improved by 85 per cent yearonyear to Rs 595kWh in Q1 FY27Merchant and shortterm realisation improved by 131 per cent to Rs 704kWh in Q1 FY27 due to strong demandThe APLs installed power generation capacity increased to 18330 MW in Q1 FY27 from 17550 MW in the yearago periodIts consolidated power sale volume climbed 169 per cent to 288 BU in Q1 FY27 from 246 BU a year ago due to higher operating capacity and strong power demand growthAs we expand our reach further with the acquisition of Jaiprakash Associates stake in power assets we are also diversifying into domestic and international hydro power projects and preparing ourselves to enter new opportunities in the nuclear power field We are strongly committed to helping India meet its longterm development goals with the supply of reliable and competitive electricity S B Khyalia CEO of Adani Power Limited saidThe board also approved raising up to Rs 15000 crore by issuance of equity shares with a face value of Rs 2 each andor other eligible securities or any combination thereof by way of qualified institutions placement or other permissible mode in one or more tranchesThe board cleared the proposal for increasing the borrowing limit from Rs 75000 crore to Rs 100000 croreAPLs ongoing capital expenditure programme to expand generation capacity to 45 GW is progressing as plannedThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever