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Adani Power faces challenging times, net loss doubles to Rs 454 crore

Adani Power on Thursday reported a consolidated net loss of Rs 453.85 crore, twice the quantum of losses posted in Q1FY17. Higher operational expenses, up 6.84% to Rs 6,103 crore dragged down profits fuel costs were higher by 9.16% at Rs 3,406 crore. The power producer’s total consolidated income for April-June quarter however, was up 4.25% on year to Rs 5,648 crore. Earnings before interest, tax, depreciation and amortisation fell 9.46% on year to Rs 1,560 crore in April-June, while margins fell 437 basis points to 27.62%. The company’s current liabilities exceed current assets by Rs 10,231 crore and cast doubt over its ability to continue as a going concern, the company said in a limited liability report. “The company expects to meet the .....

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