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Adani Power Q4 net rises 64 percent

Ahmedabad, May 3 (IANS) Adani Power on Tuesday reported a 64 percent increase in consolidated net profit for the fourth quarter of 2015-16 at Rs.1,173.39 crore as compared to Rs.715.05 crore for the corresponding period of 2014-15.

Consolidated total income for the quarter was Rs.7,456 crore while its EBITDA for the quarter stood at Rs.3,271 crore, the company said in a statement.

“Consolidated net profit for the year (2015-16) is Rs.488 crore as compared to the net loss of Rs.816 crore in the previous year,” the power producer said, adding that consolidated total income increased by 29 percent to Rs.25,433 crore as against Rs.19,791 crore in 2014-15.

Adani Group chairman Gautam Adani said that the company would remain to expanding towards the goal of achieving a thermal power generation capacity of 20,000 MW by 2020 to bridge the power deficit in the country.

“Mundra plant’s generation of 33.1 billion units during the year, is the highest by any thermal power plant in the country which is the testimony of our achievement,” CEO Vineet Jain said in the statement.

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