Ad Power Ltd said on Thursday its consolidated total revenue for Q3 FY21 stood 6 per cent higher at Rs 7,099 crore as compared to Rs 6,685 crore in Q3 FY20.
Revenue from operations for Q3 FY21 includes revenue recognition pertaining to earlier years amounting to Rs 25 crore on the basis of various regulatory orders. In comparison, revenue from operations for Q3 FY20 included prior period items of Rs 18 crore.
The earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood 17 per cent higher at Rs 1,827 crore as compared to Rs 1,557 crore in Q3 FY20 aided by lower landed cost of imported and e-auction coal, as well as higher volumes.
The loss before tax and exceptional items for Q3 FY21 was Rs 206 crore as compared to the loss of Rs 649 crore for Q3 FY20. The total comprehensive loss after tax was Rs 289 crore for Q3 FY21 as compared to the loss of Rs 703 crore in Q3 FY20.
Ad Power along with power plants of its subsidiaries achieved an average plant load factor (PLF) of 75 per cent and aggregate sales volumes of 19.1 billion units. During Q3 FY20, the company and its subsidiaries achieved an average PLF of 65 per cent and sales volume of 16.4 billion units.
The improvement in PLF was due to higher demand for power under both long-term power purchase agreements and in the short- term and merchant markets. The sales volume for Q3 FY2020-21 includes 1 billion units from Raigarh Energy Generation Ltd (REGL).
Chairman of Ad Group Gautam Ad said energy will play a key role in fulfilling the dreams of young citizens, and the demand for power will call for imaginative solutions for ensuring sustainability and stability.
"The Ad Group remains committed to sustainable growth of the energy infrastructure and becoming a key contributor to the nation's economic progress," he said in a statement.
l Sardana, Managing Director of Ad Power, said the company stands ready to fulfill the need for reliable, cost effective and efficient base load supply.
"Even as the execution of our strong growth pipeline progresses as per schedule, we strive to enhance our operating efficiencies on all parameters in order to realise maximum value of our operating assets," he said.
Sardana said the company will continue to seize value accretive opportunities in furtherance of its vision and long-term growth strategies, leveraging deep operating experience along with complementarity with the Ad Group's energy mix portfolio and strategic partnerships.
( With inputs from ANI )
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