MUMBAI, Oct 19: Adani Power, a subsidiary of Adani Enterprises,has reported a consolidated net loss of Rs 260 crore for the quarter ended September 30, 2012 as compared to the net profit of Rs 172 crore in the same period last year.
The loss in profit was mainly due to higher imported coal prices and non availability of transmission line.
However, the total consolidated income has increased by 36.32 percent from Rs 1102 crore for the quarter ended September 30, 2011 to Rs 1502 crore for the quarter ended September 30, 2012.
Commenting on the result, Gautam Adani, Chairman, Adani Power said, “Our power business has been impacted by reasons beyond our
control such as unavailability of domestic coal, high prices of imported coal and limited availability of transmission lines which
are nothing less than national issues”.
While we are working with the concerned authorities to arrive at a solution, the Adani Group is very confident of its power generation business and is moving as per schedule to commission two power projects one at Tiroda and the other at Kawai this fiscal, Mr Adani added.
(UNI)
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