Adani Power announced the financial results for the quarter and half year ended September 30th, 2018. Average Plant Load Factor (PLF) achieved during the second quarter of FY 2018-19 was 65 per cent higher as compared to 63 per cent achieved in Q2 FY 2017-18. This growth was on account of better coal availability and strong demand from DISCOMs.
Consolidated total income for Q2 FY19 grew by 19 per cent to Rs. 7,657 crore as compared to Rs 6,415 crore in Q2 FY18. The increase in revenues was mainly due to additional revenue recognition on account of change in law compensation for domestic coal shortfall.
Consolidated total income for first half of FY19 was lower by -3 per cent at Rs 11,617 crore as compared to Rs. 12,016 crore in H1 FY18, owing to the lower volumes recorded in Q1 FY 2018-19.
Consolidated EBITDA for the quarter grew by 18 per cent to Rs 2,806 crore from Rs 2,380 crore in Q2 FY18, mainly on account of growth in Revenues. Consolidated EBITDA for H1 FY19 was higher by 2 per cent at Rs 4,095 crore as compared to Rs 4,000 crore in H1 FY18.
Finance cost for Q2 FY19 was Rs 1,407 crore as compared to Rs 1,389 crore in Q2 FY18. The increase in finance cost was primarily due to higher borrowing during the quarter, which was partially offset by gains on forex hedges.
As a result of the higher revenues and EBITDA during Q2 FY19, the total comprehensive income for the quarter was Rs 387 crore, as compared to Rs 315 crore for Q2 FY18. For H1 FY19, the total comprehensive income was a loss of Rs 437 crore, which was higher as compared to a loss of Rs 137 crore in H1 FY18.
