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<keyword id="45417" type="COMPANY" weightage="20" keywordseo="Adani-Power">Adani Power</keyword> on Thursday posted a consolidated net profit of ₹13.13 crore in the March 2021 quarter, mainly on account of higher revenues. The company had posted a consolidated net loss of ₹1,312.86 crore in the quarter ended March 31, 2020, a <keyword id="35140" type="COMPANY" weightage="20" keywordseo="BSE">BSE</keyword> filing said. Total income of the company rose to ₹6,902.01 crore in the quarter from ₹6,327.57 crore in the same period a year ago. For the entire fiscal year (2020-21), the company's consolidated net profit stood at ₹1,269.98 crore. It had reported a loss of ₹2,274.77 crore in 2019-20. Total income in 2020-21 came in at ₹28,149,68 crore as compared to ₹27,841.81 crore in 2019-20. During fourth quarter of 2020-21, Adani Power, along with the power plants of its subsidiaries achieved an Average Plant Load Factor (PLF or capacity utilisation) of 59.6 pe cent, and aggregate sales volumes of 14.8 Billion Units (BU). In comparison, during the fourth quarter of 2019-20, Adani Power and its subsidiaries achieved an average PLF of 65.5 per cent and sales volume of 16.5 BU. Operating performance was affected due to lower merchant sales and grid backdown in various plants, as well as reserve, shutdown at <keyword id="48302" type="COMPANY" weightage="20" keywordseo="Udupi">Udupi</keyword> due to higher penetration of renewables, the company said. The decline in PLF was offset partially by higher merchant sales at Raipur and Raigarh, and higher grid demand at Kawai, it added. <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>, Chairman, <keyword id="6367820" type="COMPANY" weightage="20" keywordseo="adani-group">Adani Group</keyword>, said in the statement, "<keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> is facing a renewed challenge in the form of a sudden surge of the COVID-19 pandemic. The Adani Group stands shoulder-to-shoulder with the nation in facing and surmounting this challenge." "We are expending all efforts to help India recover quickly and resume on its path to progress and prosperity for all. The Adani Group remains committed to sustainable growth of energy infrastructure and becoming a key contributor to the nation's economic progress," he added. Anil Sardana, Managing Director, Adani Power, said, "As India's largest private sector power producer, <keyword id="381623" type="COMPANY" weightage="20" keywordseo="Adani-Power-Ltd-">Adani Power Ltd.</keyword> is committed to fulfilling the demand for reliable and cost-effective electricity for diverse needs, from farms to metro railways, factories to hospitals, and malls to households." "We have taken a pledge to serve our customers with uninterrupted supply of power, while ensuring that precautions to curb the spread of COVID-19 pandemic are followed strictly in all our establishments," Sardana added. In the coming years, "we will continue to tap promising business opportunities, while striving to improve our operating efficiencies on all parameters and leveraging our deep experience as well as complementarity with the Adani Group's energy portfolio, to bring about sustainable and profitable growth", he further said. Adani Power (APL), a part of the diversified Adani Group, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 12,410 MW spread across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh, apart from a 40 MW solar power plant in Gujarat. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/wazirx-users-dogecoin-cryptocurrency-report-failed-transactions-and-delays-in-orders/articleshow/82425709.cms">Dogecoin surge sends WazirX servers panting for help – users report failed transactions, delays in orders</a> <a href="https://www.businessinsider.in/india/news/india-supreme-court-quashes-election-commissions-plea-against-madras-high-court/articleshow/82427416.cms">‘Internet has revolutionised courtroom reporting’ – India’s Supreme Court quashes Election Commission’s plea against Madras High Court</a> <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-is-now-official-check-out-launch-date-downloads-and-more/articleshow/82427206.cms">Battlegrounds Mobile India is now official, but comes with several restrictions for minors</a>

Adani Power registers profits after a disappointing loss-making quarter last year

<a href="http://www.businessinsider.in/searchresult.cms?query=Adani+Power">Adani Power</a> is all set to set up a $2.2 billion coal-based <a href="http://www.businessinsider.in/searchresult.cms?query=Power+plant">Power plant</a> in Jharkhand. 
 
The company plans to build two power units with a total capacity of 1,600 megawatts (MW) and construction is expected to begin by December. The electricity from the Jharkhand units would be sold to Bangladesh. 
 
Flagship <a href="http://www.businessinsider.in/searchresult.cms?query=Adani+Enterprises">Adani Enterprises</a> is currently fighting legal challenges to start a $7 billion mine coal near the Great Barrier Reef in Australia. The company wants to take its electricity generation capacity in India to 20,000 MW this decade through <keyword id="45417" type="COMPANY" weightage="40" keywordseo="Adani-Power">Adani Power</keyword>. 
 
An <a href="http://www.businessinsider.in/searchresult.cms?query=Adani+Power">Adani Power</a> spokeswoman did not immediately respond to a request for comment. 
 
Image credit: Indiatimes

Adani Power to build $2 Billion Power Plant in Jharkhan

<keyword id="45417" type="COMPANY" weightage="100" keywordseo="Adani-Power">Adani Power</keyword> will acquire Korba West Power, a subsidiary of <keyword id="430968" type="ORGANIZATION" weightage="100" keywordseo="Avantha-Power">Avantha Power</keyword> and Infrastructure, for Rs 4,200 crore. The company has signed a memorandum of understanding (MoU) with Adani Power to sell its entire stake in Korba unit, Avantha said in a statement. 
 
Adani Power said that its power-generating capacity will now increase to 11,040 MW. It had earlier acquired 1200-MW Udipi power plant. 
 "The acquisition consolidates our pan-India presence. We are confident of achieving our target of generating 20,000 MW by 2020," said <keyword id="111343" type="PERSON" weightage="100" keywordseo="Gautam-Adani">Gautam Adani</keyword>, chairman of Adani Group. 
 Avantha Group’s entities in diversified sectors include <keyword id="105578" type="PERSON" weightage="60" keywordseo="Crompton-Greaves">Crompton Greaves</keyword>, BILT, The Global Green Company Limited, Biltech Building Elements Limited, Avantha Power (energy), Salient Business Solutions Limited, Jg Glass.

Adani Power To Buy Avantha
Group’s Korba West Power For Rs 4,200 Crore

New Delhi, Jun 23 () Adani Power will acquire US-based The AES Corporation's 49 per cent equity stake in Odisha Power Generation Corporation for USD 135 million (around Rs 1,019 crore), the Adani group firm said on Tuesday. "Adani Power Ltd (APL) has signed a definitive agreement to acquire the 49 per cent stake in Odisha Power Generation Corporation (OPGC) from the affiliates of The AES Corporation (AES), the US-based global energy company," a regulatory filing said. Adani Power will acquire a total of 89,30,237 equity shares held in OPGC representing 49 per cent of the total issued, paid-up and subscribed equity share capital of OPGC for USD 135 million. The OPGC operates 1,740 MW thermal power plant at Banharpalli in Jharsuguda district, Odisha. This plant is the mainstay of the Odisha state for base load power supply and amongst the lowest-cost power generated in the state. The supercritical capacity of 1,320 MW is a recently commissioned modern plant with low carbon footprint. The plant has a long-term power purchase agreement (PPA) valid for 25 years with the state owned off taker GRIDCO and sources fuel from a nearby captive mine. The Government of Odisha holds the balance 51 per cent stake in OPGC.The acquisition also marks APL's foray into Odisha state, and it demonstrates the Adani Group''s long-term commitment to develop and operate high quality infrastructure in the state, it said. AES and Adani Group shall continue to partner to facilitate the delivery of renewables and energy storage in India, it added. The Transaction is subject to customary regulatory approvals including compliance with applicable requirements in relation to the Government of Odisha and the receipt of regulatory approvals such as Competition Commission of India and Reserve Bank of India, it added. The turnover of OPGC during 2018-19 was Rs 887.71 crore. KKS MR

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Adani Power registers profits after a disappointing loss-making quarter last year

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Adani Power to build $2 Billion Power Plant in Jharkhan

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Adani Power To Buy Avantha Group’s Korba West Power For Rs 4,200 Crore

BI India Bureau

Adani Power to acquire 49pc stake in Odisha Power for Rs 1,019cr

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