Net Loss of Adani Power reported to Rs 702.36 crore in the quarter ended December 2019 as against net loss of Rs 1180.78 crore during the previous quarter ended December 2018. Sales rose 4.28% to Rs 6574.82 crore in the quarter ended December 2019 as against Rs 6305.04 crore during the previous quarter ended December 2018.

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The company reported a consolidated pre tax loss of Rs 648.55 crore in Q3 2019 as against pre tax loss of Rs 840.5 crore in Q3 2018.

Total revenue rose 0.27% in Q3FY20 at Rs 6,685 crore as against Rs 6667 crore reported in Q3FY19. This includes revenue recognition pertaining to earlier periods amounting to Rs 20 crore towards compensation for change in law and carrying cost.

EBITDA rose 13% to Rs 1557 crore in Q3 December 2019 as against Rs 1372 crore reported in Q3 December 2018, amid improved fuel cost recovery.

Depreciation charge for Q3 December 2019 was at Rs 783 crore, after incorporating the consolidation as compared to Rs 682 crore in Q3 December 2018.

Adani Power is engaged in providing electric power generation by coal-based thermal power plants and coal trading.

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Adani Power will hold a meeting of the Board of Directors of the Company on 6 February 2020.

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Adani Power has received revision in credit ratings from CARE Ratings as under -

1. Long Term Bank Facilities aggregating to Rs. 218.80 crore - CARE BBB-; Stable (revised from CARE BB+; Stable)

2, Long Term / Short Term Bank Facilities aggregating to Rs. 39.60 crore -CARE BBB-; Stable / CARE A3 (revised from CARE BB+; Stable/ CARE A4+)

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