Adani Power reports 41% surge in Q2 net profit

Adani Power, an ancillary of the Adani Group has reported results for the second quarter ended September 30, 2011.

The company’s net profit for the quarter has surged 41.04% at Rs 177.48 crore as compared to Rs 125.84 crore for the corresponding quarter of the previous year. The company’s total income has increased by 171.55% at Rs 1073.08 crore for the second quarter of the current fiscal from Rs 395.17 crore for the corresponding quarter of the previous year.

The result of the quarter include a non time charge of Rs 55.83 crore, under exceptional items, towards mark-to-market (MTM) loss on derivative instruments.