Coal news and updates

Adani Power FY15 net loss widens to Rs 815.63 cr

May 12: Adani Power Limited, a subsidiary of Adani enterprises Limited, reported a consolidated net loss of Rs 815.63 crore for 2014-15 (FY 15) against a net loss of Rs 290.55 crore reported in the previous fiscal, the company said in a filing to the BSE on May 11.

However, during the January-March quarter (final quarter) of 2014-15, the company’s net profit stood at Rs 715.05 crore against a net loss of Rs 428.68 crore reported in the same quarter of the previous fiscal.

Consolidated total income of the company during the fiscal under review stood at Rs 19,545 crore, up almost 24% from Rs 15,768 crore in the previous fiscal while the same for the final quarter of 2014-15 stood at Rs 4,667.56 crore, up from 5,996.49 crore earned in the same quarter of the previous fiscal.

In FY15, the company sold 50.7 billion units against 40.1 billion units in FY14 while during the final quarter of the fiscal, 12 billion units were sold against 11.8 billion units in the same quarter of the previous fiscal.

“We had a robust year of overall performance with the completion of all announced projects and stabilisation of operations of all plants… With implementation of policy measures, execution of tariff orders and the possibility of improved domestic coal availability, we are confident of better performance in the ensuing year,” said Vneet Jaain, CEO, Adani Power.