Adani Power Q4 Profits Dip, FY24 Revenue Soars

2 May 2024 , 10:43 AM

Adani Power, led by Gautam Adani, reported a 47.8% decrease in consolidated net profit for Q4FY24 compared to the same period last year, reaching ₹2,737 Crore.

The net profit for Q4FY24 remained the same as the previous quarter, standing at ₹2,737 Crore. Total income for Q4FY24 was ₹13,881.52 Crore, up from ₹10,795.32 Crore in the year-ago quarter. However, for the entire FY24, the net profit nearly doubled to ₹20,828.79 Crore compared to FY23's ₹10,726.64 Crore.

Expenses for the period under review increased to ₹10,323.58 Crore from ₹9,897.60 Crore in the year-ago period. Revenue from operations surged by 30% to ₹13,363.69 Crore in Q4FY24 from ₹10,242.06 Crore in the same quarter of the previous fiscal year. The revenue reported for FY24 was ₹60,281 Crore, showing a significant increase of almost 40% from FY23's ₹43,041 Crore.

At the time of writing, the stocks were trading at ₹610.25 which is a 0.36% dip than the previous close. The stock has achieved 158.64% surge in the last one year, and 16.63% growth since the beginning of this year.

Gautam Adani, chairman of Adani Group, emphasized the company's commitment to providing sustainable energy solutions and supporting India's economic growth. Adani Power plays a crucial role in the company's long-term strategy, supplying reliable power and contributing to national projects.

Sangeeta Singh has been appointed as an additional director (Non-Executive, Independent) for an initial term of three years, bringing her experience from roles including member of Central Board of Direct Taxes (CBDT) and principal chief commissioner of income tax.

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