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Adani Power reported has consolidated net loss of ₹67 crore in Q4FY18 against ₹4,960 crore in the same period last year on account of significant cut on fuel expenses.
The power producer stopped operations at its 4,620 MW imported coal-based plant in Mundra.
According to Gautam Adani, Chairman, the company is still in discussion with key stakeholders to identify a solution for the Mundra power plant, which has been impacted financially due to under-recovery of fuel costs.
Adani Power‘s total income reduced to ₹4,161 crore in Q4 from ₹6,586 crore in the corresponding period in FY18. Power sold during Q4FY18 stood at 7.9 billion units which is 15.7 per cent lower than in Q4FY17, the company noted.
Average plant load factor in the quarter has dropped to 37 per cent compared to 73 per cent achieved in the same period a year ago.
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