Adani Power, India’s largest private power producer, has reported consolidated net loss of INR 667.48 Crore in Q4 FY18, which was 87% lesser on the year against INR 4960.53 Crore in the Q4 FY17.
The power company managed significant cut in losses incurred on fuel expense, after closing down the power units at Mundra power plant in Gujarat.
The total expense on fuel was INR 4363.19 Crore during Q4 FY17, which had been limited to INR 2139.51 Crore in Q4 FY18.
Commenting on the quarterly results, Adani Power’s chairman, Mr Gautam Adani had commented that the company was still in discussion with key stakeholders to find a solution for Mundra power plant, which has been impacted financially due to under recovery of fuel costs.
Adani’s Mundra power plant with an installed capacity of 4620 MW ( 5 X 660 MW + 4 X 330 MW) is specifically designed to run on imported coal. The power plant had faced difficulties to continue its operations on account of higher global coal prices. As per the data provided by CEA report, 8 power units of Mundra power plant have been closed down during Oct’17-Mar’18 period.
Adani power had incurred a total loss of INR 2119.36 Crore in FY18, against 6174.10 Crore in FY17.
In terms of Operational performance, Adani power had sold 48,005 MU (Million Units) of electricity in FY18 as compared to 60,194 MU in FY17. Units sold during Q4 FY18 were 7,923 MU as compared to 16,311 MU during Q4 FY17.
Average Plant Load Factor (PLF) achieved during FY18 was 55%, as compared to 70% achieved in FY17. Average Plant Load Factor (PLF) achieved during the fourth quarter of FY18 was 37%, as compared to 73% achieved in Q4 FY17.
Adani power’s consolidated total income for the year FY18 stood at INR 21,093.43 Crore as compared to INR 23,034.47 Crore in FY17. Consolidated EBITDA for the year stood at INR 6,174 Crore from INR 6,391 Crore in FY17.
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