Adani Power profit surges 142% on strong demand amid weak rains

For the first half of the fiscal year, net profit rose more than 91% to ₹11,885.9 crore from ₹6,211.6 crore.

Higher power production, an increase in tariffs under its power purchase agreements (PPAs) following a sharp rise in the price of imported coal, and improved realisation from selling electricity in the open market boosted revenue, Adani Power said.

Additionally, there was a prior-period revenue recognition of ₹2,422.2 crore the past quarter, primarily due to a revision in historic energy charges under certain PPAs, the company said. It had a similar income of ₹668.5 crore a year earlier.

For the first half of the fiscal year, net profit rose more than 91% to ₹11,885.9 crore from ₹6,211.6 crore.

The company said it is progressing rapidly on its capacity expansion programme to add 23,720 MW of new thermal power capacity.