Ahmedabad: Adani Power Ltd today posted a loss of ₹1,180 crore for the third quarter ended December 31. The net loss in the corresponding quarter of the same period a year earlier stood at ₹1,311 crore. Consolidated total income for the quarter was ₹6,667 crore, up from ₹4,916 crore in the corresponding period of 2017-18, the company said. We hope to see timely approval of supplementary PPAs (power purchase agreements) by the CERC, which will help the Mundra power plant to operate sustainably. The project ran into trouble when the Indonesian government increased the price of coal, but the power purchase agreements did not allow Adani Power to pass on the increase in fuel cost.

Source: Mint February 06, 2019 10:52 UTC