Adani Power Posts 38% Surge in Q1 Sales Volume Amid Rising Demand
Adani Power reported a 38% increase in consolidated power sale volume to 24.1 billion units for Q1 2024, fueled by heightened demand and expanded capacity. Revenue rose by 30% to Rs 15,052 crore, with EBITDA up 53%. The company attributed growth to higher sales and reduced fuel costs.
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- India
Adani Power reported a robust 38% increase in consolidated power sale volume, reaching 24.1 billion units during the April-June quarter. This marks a significant rise from the 17.5 billion units recorded in the same period of 2023, driven by enhanced power demand and augmented operating capacity.
The Adani Group entity announced a 30% hike in consolidated continuing total revenue, which climbed to Rs 15,052 crore from Rs 11,612 crore in the equivalent quarter of the previous year. This surge was primarily attributed to elevated sales volumes. Notably, consolidated continuing EBITDA surged by 53% to Rs 6,290 crore from Rs 4,121 crore, reflecting increased revenues and lower import fuel prices.
Adani Power Ltd., a key player within the Adani Group, revealed its financial results for Q1 2024, highlighting its strategic initiatives for growth. CEO SB Khyalia stated, "As Adani Power grows from strength to strength, we have undertaken advance development activities to secure execution pipelines for three Ultra-supercritical projects of 1,600 MW each, positioning ourselves for the anticipated resurgence in the thermal power sector." Khyalia emphasized the company's commitment to leveraging high-efficiency, low-emission technologies and addressing India's need for sustainable, reliable, and affordable power.
The company noted that India's power demand continues to exhibit strong growth, with aggregate demand rising by 10.6% year-on-year in the first quarter and peak demand hitting a record 250 GW. This favorable environment has led to increased offtake from Adani Power's plants.
In Q1 2024-25, higher volumes were driven by numerous plants, particularly Mundra and Mahan, along with Godda, whose second 800 MW unit was commissioned in June 2023. Adani Power's installed thermal capacity now stands at 15,210 MW across eight plants in various states, supplemented by a 40 MW solar power facility in Gujarat.
(With inputs from agencies.)
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