Adani Power has reported results for third quarter ended December 31, 2011. The company has reported a net loss of Rs 358.42 crore for the quarter ended December 31, 2011 as compared to net profit of Rs 109.11 crore for the same quarter in the previous year. However, total income has soared by 111.07% from Rs 502.94 crore for Q3FY11 to Rs 1061.58 crore in the quarter under review.
The company’s EBITDA margin for the December quarter was at 20% as against 55% in the third quarter previous year. For the nine months ended December, the company clocked a net loss of Rs 4 crore compared to Rs 349 crore of the corresponding period last fiscal.
The company which operates a 2,650 mw thermal plant in Mundra, Gujarat, imports its entire coal requirement. About 33% of its coal comes from Bunyu mines in Indonesia, which is owned by Adani Enterprises, while the rest 67% is procured at higher prices from the open market.
