Adani Power Ltd (APL) on Thursday reported an increase of 132 per cent in net sales and 54 per cent in profit after tax (PAT) in the first quarter of 2011-12, as compared to the corresponding quarter of the previous fiscal.

While sales were Rs 819 crore (Rs 353 crore), PAT stood at Rs 177 crore (Rs 114 crore), said Mr Prabal Banerji, Chief Financial Officer (CFO).

On Thursday, APL's share price at the BSE closed 7.38 per cent down at Rs 93.55.

The growth in net sales was largely due to capacity addition in the quarter, taking the total generation capacity to 1,980 megawatt. With this, APL has emerged as India's largest private thermal power producer, he said, adding the company is targeting to achieve 6,000 mw by March 2012 (including 4,620 mw at Mundra) and 9,240 mw by March 2013, out of the total 16,500 mw it is developing at present.

The average plant load factor (PLF) was 74 per cent (80 per cent) due to planned shutdowns in the quarter when APL synchronized its second super-critical power generation unit of 660 mw at Mundra.

It now plans to synchronize two more units of 660 mw each at Tiroda, Maharashtra, in the current fiscal.

Due to the shutdowns, APL's average realization came down to Rs 2.82 per unit (Rs 3.36) as it provided power to the parties it had signed power purchase agreements with (PPAs), but had little power left for merchant sales.

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