Adani Power Ltd (APL), a subsidiary of Adani Enterprises Ltd (AEL), on Monday said its consolidated net loss during the financial year 2014-15 was Rs 816 crore.
Announcing financial results for the fourth quarter and the fiscal ended March 31, 2015, the company said its consolidated income during the year increased by 24 per cent, from Rs 15,768 crore to Rs 19,545 crore.
In the fourth quarter, the income was Rs 4,668 crore and net profit at Rs 715 crore, the company said in a statement here.
During the period, APL completed acquisition of Udupi Power Corporation Ltd, following which the company now has a total commissioned capacity of 10,440 MW.
In the fourth quarter, APL sold 12 billion units of electricity as compared to 11.8 billion units in Q4FY14, whereas it sold a total of 50.7 billion units in 2014-15, compared to 40.1 billion units in FY’14.
Revenue increased because of higher effective operational capacity of 8,891 MW as compared to 7,182 MW in the corresponding previous year, the company said.
Exceptional item during the quarter and the year was mainly due to the gain arising as a result of demerger of transmission business and subsequent stake sale of transmission business to Adani Transmission Ltd.
During the quarter and the year, the company revised the estimated useful life of the fixed assets as prescribed in Schedule-II of the Companies Act, 2013 and consequently the depreciation charge for the quarter and the year was lower by Rs 720 crore.
Commenting on the financial performance of the company, Gautam Adani, Chairman, said that APL has emerged India’s largest private power producer and now with the completion of acquisition of Udupi Power Plant its installed capacity has increased to 10,440 MW.