Adani Power net loss widens to Rs 1,290.74 crore in third quarter

The consolidated net loss for Adani Power for the quarter ended December 31, 2017 has increased to Rs 1,290.74 crore from Rs 667.89 crore loss in the year-ago period. The revenue from operations during the quarter slumped, registering a loss of 10.8 per cent to Rs 4,844.46 crore, compared to Rs 5,431.5 crore in same quarter of 2016-17. EBIDTA (earnings before interest, tax, depreciation and amortisation) during third quarter (Q3) of 2017-18 (FY18) was Rs 800 crore, as compared to Rs 1,364 crore in the same quarter of 2016-17 (FY17). Owing to the arrears of transmission charges of Rs 287 crore not pertaining to the quarter, EBITDA during the quarter was lower. The lower fixed capacity charge revenue was on the back of lower-billed availability, the company said. According to power producer, average Plant Load Factor (PLF) achieved during the Q3 of FY18 was 58 per cent, lower as compared to 69 per cent achieved in Q3 FY17. According to Adani Group Chairman Gautam Adani, the company has hinged hopes on Shakti scheme for receiving coal linkages for the Tiroda and Kawai plants in the near future. The financial viability of Mundra project has got hit and they are in dialogue with key stakeholders for an early solution, Adani added.