By Sachin Murdeshwar

Ahmedabad  : Adani Power Ltd, a subsidiary of Adani Enterprises Ltd and part of Adani Group, a global integrated player, today announced the financial results for the fourth quarter and financial year ended March 31, 2013.

On Consolidated basis, the total income for the year ending March 2013 rose by 66% to Rs 6,779 Crores compared to Rs 4,092 Crores. The net loss for year ending March 2013 was Rs. 2,295 Crores as compared to Rs. 294 Crores in the same period last year. The consolidated EBIDTA decreased by 22% to Rs. 1,150 Crores compared to Rs. 1,475 Crores in the last year.

On Standalone basis, the total income for the year ending March 2013 rose by 60 percent to Rs 6,333 Crores compared to Rs 3,951 Crores. The net loss for year ending March 2013 was Rs. 1,952 Crores as compared to Rs. 294 Crores in the same period last year. The EBIDTA decreased by 10% to Rs. 1,332 Crores as compared to Rs. 1,482 Crores in the last year.

On Consolidated basis, the total income for the quarter ending March 2013 rose by 79 percent to Rs 1,889 Crores compared to Rs 1,055 Crores in the same period last year. Net Loss for the quarter ending March 2013 stood at Rs 586 Crores compared to a net loss of Rs 292 Crores in the same period last year. The EBIDTA for the quarter increased by 109% to Rs. 455 Crores compared to Rs. 218 Crores in the same period last year.

On Standalone basis, the total income for the quarter ending March 2013, rose by 75 percent to Rs 1,747 Crores compared to Rs 999 Crores in the same period last year. Net Loss for the quarter ending March 2013 stood at Rs 426 Crores compared to a net loss of Rs 290 Crores in the same period last year. The EBIDTA for the quarter increased by 151% to Rs. 522 Crores compared to Rs. 208 Crores in the same period last year.

Commenting on the financial performance of the Company Mr. Gautam Adani, Chairman, Adani Power said, “We welcome CERC order as a step forward to resolve the tariff issue as it will be in the best interests of all stakeholders and consumers. The developmental mindset of the Government is set to benefit the power sector as a whole and in particular the players which will have large power generating capacity in future.”

Mr. Prabal Banerji, CFO of Adani Power, said, “The challenges of limited resources and evacuation bottleneck have affected our profitability in the past year. However, with FSA signing, timely delivery of the domestic coal and with fully operationalized capacity, the company is confident of posing a strong operational and financial performance to bring value to its stakeholders.”