Adani Power announces Q4 FY23 results

Consolidated total revenue higher by 35.8% at Rs. 43,041 Crore in FY23 vs Rs. 31,686 Crore in FY22; mainly due to improved tariff realisation, high import coal price, and higher one-time revenue recognition on account of regulatory claims.

By TBT Web Desk On May 6, 2023

Adani Power will co-fire Green Ammonia at Mundra Plant for sustainability — Green ammonia, produced from green hydrogen, which in turn is produced through electrolysis using renewable energy, would be a feedstock for the boilers

Ahmedabad: Adani Power Ltd. [“APL”], a part of Adani Group, today announced the financial results for the fourth quarter and year ended 31st March 2023.

Commenting on the quarterly results of the Company, Mr. Gautam Adani, Chairman, Adani Group said, “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, Adani Group is fully committed to meet it in a sustainable and dependable manner. Reliable and scalable base load power is fundamental to its economic sustenance, which Adani 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.”

Mr. S B Khyalia, CEO, Adani Power Limited, said, “The indefatigable spirit that drives the Adani Group has been aptly demonstrated by Adani Power Limited by surmounting challenges through perseverance, dedication, and strong belief in fundamental values. The Company now enters the next stage of its corporate journey with a healthy balance sheet, a modern and efficient fleet, and a revitalized holding structure. The culmination of long-deliberated regulatory matters has helped evolve and refine the principles that will enable the power sector to grow profitably and equitably. 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.”