Q3FY17 Results: Adani Power Ltd.
Bhagyashree Vivarekar / 20 Jan 2017
The company reported a net loss of Rs 323.61 crore, which represents a 177.8 per cent sequential QoQ increase in loss and a YoY decline of 395.56 per cent. The company had a net profit of Rs 109.49 crore in the corresponding quarter last fiscal. Stock plunges almost 12 per cent.
Adani Power Ltd. reported its results for the quarter ended December 31, 2016 during market hours today.
The total sales for Q3FY17 came in at Rs 5813.33 crore. This represents a 0.64 per cent sequential increase and 6.1 per cent YoY decline.
The operating profit (EBIT) for the quarter amounted to Rs. 1041.3 crores and the EBIT margin stood at 17.91 per cent.
The company reported a net loss of Rs 323.61 crore, which represents a 177.8 per cent sequential QoQ increase in loss and a YoY decline of 395.56 per cent. The company had a net profit of Rs 109.49 crore in the corresponding quarter last fiscal.
The company's stock, which opened for trading at Rs 38.95 on the BSE, fell by almost 12 per cent after the results were declared and is currently trading around Rs 34.20.
Adani Power Ltd, the flagship company of Adani group, is a private power generating company in India. The company’s businesses include power generation, power transmission and solar power.
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