Adani Power’s consolidated net loss narrowed to Rs 1,180.78 crore for the quarter ended on December 31, 2018, from Rs 1,313.74 crore in the year-ago quarter, helped by a healthy growth in income, according to a company statement. Total income of the company rose to Rs 6,667.11 crore in the quarter ending December from Rs 4,916.34 crore in the year-ago quarter, the statement said. The average Plant Load Factor (PLF) or capacity utilisation of power generating plants was 73 per cent in the third quarter of 2018-19 compared to 58 per cent in the same quarter of last fiscal. Commenting on results Gautam Adani Chairman, Adani Group said, "We are witnessing rapid progress in the resolution of regulatory issues that have affected cash flows of our projects in the past. We hope to see timely approval of supplementary PPAs (power purchase agreement) by the (power regulator) CERC, which will help the Mundra power plant to operate sustainably.”
He said: “We have also received a substantial amount of compensatory payments under Change in Law for Domestic Coal Shortfall, for the Tiroda and Kawai plants.”
