Adani Power Q1FY13 Result - First Cut - Microsec Research

Adani Power Ltd, a subsidiary of the Adani group, announced a standalone net loss of Rs. 792.98 crore for the three months ended June 30, compared with a net profit of Rs. 176.85 crore in the year-ago period.

The company posted a 78.77% growth in sales to Rs.1463.81 crore as it sold 4,546 million units in the first quarter of this fiscal compared with 2,898 million units in the corresponding quarter last year.

The company has posted this loss due to high price of imported coal and the non-availability of transmission lines. The fuel cost for the Mundra power plant has gone up by 200% in the last one year from Rs. 1.15 per unit in the first quarter last financial year to Rs. 3.13 in the corresponding period this year and this is without adjusting the forex loss.

Adani Power has commissioned India's first ever private sector High Voltage Direct Current (HVDC) transmission line from Mundra in Gujarat to Mohindergarh in Haryana. Set up at a cost of about Rs. 3,400 crore, this transmission line is the longest dedicated line in the private sector and will supply power to energy hungry region of north India. The company expects to achieve the expansion of capacity from current 4,620 MW to nearly 10,000 MW by March 2013.

Source : Equity Bulls

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