Adani Power Q1 net loss up 95% on higher fuel cost

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New Delhi: Indian multinational company Adani Power reported a net loss of Rs 454 crore for the April-June quarter, almost two times than Rs 233 crore it had posted in the similar quarter of the preceding year.

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The Gautam Adani-led Corporation stated that due to superior fuel costs, consolidated earnings before interest, taxes, depreciation and amortization decline around 8% to Rs 1,618 crore.

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The corporation, which had reduce on power supplies to the state administration-owned power utility Gujarat Urja Vikas Nigam Ltd throughout the quarter, conveyed that its consolidated income for the quarter was Rs 5,648 crore, 4% superior than Rs 5,418 crore in the year-before period.

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The corporation also further stated that superior tariffs due to the application of alteration in law clauses in some power purchase accords contributed to the higher income.

The average plant load factor achieve throughout the quarter was 63%, inferior than 66% achieved in the April-June quarter of previous year.

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