Adani Power Ltd. reported results for the December quarter on Wednesday, December 29, which were higher on a year-on-year basis on all fronts.
The company’s board has also approved enhanced fund raising limits through Non-Convertible Debentures, as well as a Qualified Institutional Placement.
Net profit for the quarter increased by 7.4% to ₹2,940 crore from ₹2,737 crore last year. Revenue for the quarter grew by 5.2% on a year-on-year basis to ₹13,671.2 crore.
Adani Power’s Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) grew by 8% from the year-ago quarter to ₹5,023 crore, while margin expanded to 36.7% from 35.8% during the base quarter.
Additionally, the company’s board has approved the increase of its fund raising limit via Non-Convertible Debentures (NCDs) to ₹11,000 crore, from the earlier limit of ₹5,500 crore.
The company has also approved raising funds to the tune of ₹5,000 crore through the Qualified Institutional Placement (QIP) route.
Shares of Adani Power are trading 5.5% higher post the earning announcement to ₹522.5. The stock is still down 42% from its recent peak of ₹895.

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