Mumbai, February 09:Adani Power, part of the Adani Group, has clocked a 50 per cent vault in its net profit in Q3 FY 11 at Rs 109.11-crore as against Rs 72.49-crore in the year-ago period.
Sales for the reporting quarter increased 115 per cent at Rs 502.60-crore as against Rs 233.59-crore in the year-ago period, the company said in a press release issued here.
The growth in income from operations is largely due to the addition of 330 MW power generation capacity in Q3, taking the total power generation capacity of Adani Power to 1,320 MW in the third-quarter of 2010-11, the release said.
Furthermore, the company also sold 1,717.49-million units of electrical energy in the third-quarter as compared to 605.59-million units in the corresponding quarter of the previous year.
Basic and diluted earnings per share before extra-ordinary items for the three-month period ended December 2010 was Rs 0.50 (non-annualised) and for the nine-months stood at Rs 1.60 compared to Rs 0.47 for the nine-month period last year.
Adani Power’s Chairman, Gautam Adani, said, “Adani Power is currently implementing 16,500 MW of power generation projects across seven locations in India. Our performance for the Q3 and nine-months ended December 2010 bear testimony to the fact that we are well on our way to achieving our goals of implementing power generation projects totaling 20,000 MW by
2020.”
—————–PTI