Adani Power Q3 Results: Margins narrow nearly 300 basis points led by fall in revenue

Adani Power Ltd

. reported results for the December quarter on Thursday, January 29, which were lower on a year-on-year basis, across parameters.

Revenue for the quarter declined by 8.9% to ₹12,451 crore from ₹13,671 crore during the same quarter last year.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) stood at ₹4,238 crore, which was 15.6% lower compared to last year's figure of ₹5,024 crore.

EBITDA margin narrowed by nearly 300 basis points to 34%. Adani Power's EBITDA margin in the base quarter stood at 36.7%.

Net profit for the period stood at ₹2,479 crore, a decline of 18.9% from last year's figure of ₹3,057 crore.

Adani Power has added new long-term power purchase agreement worth 3.2 GW from Assam Discom during the quarter. 90% of its existing capacity is now tied up in Power Purchase Agreements (PPAs).

Consolidated power sale volume of 23.6 billion units was higher than the 23.3 billion units during the same quarter last year.

Shares of Adani Power are recovering from the lows of the day, currently trading 0.9% higher at ₹135.89.