The gross debt for the fourth quarter of the financial year 2018-19 stood at Rs 12,236 crore and net debt was at Rs 10,734 crore, an official statement said
New Delhi: In the fourth quarter of the financial year that ended on March 31, Adani Green Energy widened its consolidated loss to Rs 94.08 crore primarily due to higher depreciation and borrowing cost. The company had reported a consolidated net loss of Rs 42.81 crore in the corresponding quarter a year ago, an official statement said.
Depreciation in the fourth quarter of financial year 2018-19 stood at Rs 293 crore, up by 77 percent. Interest and bank charges rose to Rs 274 crore from Rs 142 crore a year ago. Adani Green Energy attributed the increase in finance cost to capitalisation of interest during project phases and ramping up of capacity in the previous year,
The Adani group company's total income in the fourth quarter of FY 2018-19 stood at Rs 718.73 crore, up from Rs 416.68 crore in the same period a year ago. For the entire financial year, the company's loss stood at Rs 475.05 crore, up from Rs 137.51 crore in the previous financial year. For FY2018-19, Adani Green Energy's total income increased to Rs 2,130.99 crore from Rs 1,519.27 crore.
The gross debt for the fourth quarter of the current financial year stood at Rs 12,236 crore (including Rs 1,596 crore debt of group companies). Net debt was at Rs 10,734 crore (gross debt less cash and cash equivalents, including margin money deposits with banks of Rs 744 crore and trade receivable of Rs 758 crore).
The company said that it had secured 250 MW wind and 150 MW solar bids in the March quarter. It added that after the completion of all the bids won and projects under implementation, Adani Green Energy's operational capacity would stand at 4,560 MW.
"To fully take advantage of India's Renewable Energy potential over the next few years will require new initiatives from central and state governments — beyond policy and programs currently in place — to support the engagement and participation of power sector stakeholders including Renewable Energy industry and developers, grid operators, public and private finance providers, consumers, and others," Chairman Gautam Adani said.