Ahmedabad, Oct 28: Adani Power on Monday reported 20 per cent growth (year-on-year) in continuing revenue at Rs 28,517 crore in the first half of this fiscal (HI FY25) and 10.8 per cent growth to Rs 13,465 crore in Q2 FY25.

Continuing profit before tax (PBT) grew 69 per cent to Rs 8,020 crore in H1 FY25 and 44.8 per cent to Rs 3,537 crore in Q2 FY25, said the company.

“Adani Power has embarked on the next phase of its growth journey, swiftly achieving capacity expansion milestones and securing power supply agreements to ensure long-term revenue stability,” said SB Khyalia, CEO, Adani Power Limited.

The company consistently delivers robust operating and financial performance by leveraging its inherent strengths and competitive advantages,” Khyalia added.

Consolidated power sale volume stood at 46 billion units (BU) in H1 FY25, up by 29.2 per cent from 35.6 BU in H1 FY24, due to improved power demand and higher operating capacity.

Consolidated continuing EBITDA for Q2 FY25 increased by 24.6 per cent at Rs 5,402 crore compared to Rs 4,336 crore for Q2 FY24, due to greater sales volumes as well as lower fuel and operating costs.

According to the company, power demand was flat during Q2 FY25 as compared to the corresponding quarter of FY24.

“This was primarily due to climatic conditions such as a delayed but prolonged rain spell affecting demand. Nevertheless, cumulative demand for FY 2024-25 till September 30, 2024 was robust with a growth of 5 per cent over the first half of FY 2023-24,” said the company.

Growing peak demand has also improved power offtake from the thermal power sector to ensure uninterrupted power supply during the hours of low renewable energy generation.

Meanwhile, after Adani Power, which submitted a bid of Rs 12,500 crore for the acquisition of the KSK Mahanadi Power plant in Chhattisgarh, other bidders have revised their offers upwards and the final number could be much higher, according to reports.

Adani’s competitive bid, which aggregates to Rs 27,000 crore when combined with KSK Mahanadi’s reported cash reserves of Rs 10,000 crore and trade receivables worth Rs 4,000 crore, means the lenders could achieve an unprecedented 92 per cent recovery.

KSK Mahanadi has an installed capacity of 1,800 MW. The project, which had accumulated debts of Rs 29,330 crore, was brought into the IBC process in 2019.

--IANS

Read More National News

Argus News | argus news | Odisha Latest News, Breaking News, Trending News, Live TV