Ahmedabad (Gujarat) [India], May 6 : Ad Power has posted a consolidated net profit (profit after tax) of Rs 5,242 crore for the January-March 2023 quarter, an increase of 12.9 per cent, the company statement said.
In the same quarter of 2022, the company's net profits were Rs 4,645 crore.
For the entire financial year 2022-23, consolidated Profit After Tax was higher by 118.4 per cent at Rs 10,727 crore versus Rs 4,912 crore for 2021-22.
In a filing with the stock exchanges on Friday, its consolidated total revenue for the quarter was Rs 10,795 crore, as compared to Rs 13,308 crore in a year ago period. Revenues were over 23 per cent higher during the quarter.
Further, consolidated total revenue was higher by 35.8 per cent at Rs 43,041 crore in the entire fiscal. In 2021-22, it was Rs 31,686 crore.
The rise in revenues was mainly attributed to improved tariff realization and higher import prices for coal.
"India's growing demand for world-class infrastructure facilities is acting as the springboard for the next phase of its economic growth. As the nation's foremost infrastructure conglomerate, Ad Group is fully committed to meet it in a sustainable and dependable manner. Reliable and scalable baseload power is fundamental to its economic sustenance, which Ad Power is best placed to supplement along with the Group's diversified presence across the energy value chain of renewable and conventional generation, transmission, and distribution," Gautam Ad, Chairman, Ad Group said.
Ad Power (APL), a part of the diversified Ad Group, is a major private thermal power producer in India. The company has an installed thermal power capacity of 14,410 MW spread across eight power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand, apart from a 40 MW solar power plant in Gujarat.
"We have also started a new chapter in cross-border co-operation with the commissioning of the first 800 MW unit of the Godda Ultra-supercritical thermal power project, which will provide Bangladesh with a reliable source of electricity, and help it achieve its long-term economic goals," said SB Khyalia, CEO, Ad Power.
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