Business News

Adani Power posts 14% rise in net profit in second quarter

The company said it had profited from higher revenues and lower borrowing costs.

Adani Power Limited on Saturday said it posted a consolidated net profit of Rs 256.50 crore in the quarter ending September 30, which is 14% higher year on year.

This was the company’s first standalone quarterly profit in five quarters since April 2016, on the back of higher revenues and lower borrowing cost, The Hindu reported.

In a Bombay Stock Exchange filing on Saturday, Adani Power said it suffered a consolidated net loss of Rs 313.05 crore in the same quarter in 2016. It said its total income has risen to Rs 6,462.47 crore in the second quarter of 2017 from Rs 5,670.25 crore a year ago.

The company’s consolidated net loss was Rs 161.14 crore in the April-September quarter this financial year, compared to Rs 545.68 crore in the corresponding period last year. It suffered losses of Rs 6,174.10 crore in the financial year ending March 31, 2017.

Adani Power said the average plant load factor – the output of a power plant compared to the maximum output it could produce – achieved during the second quarter of 2017-’18 was 63%, lower than the 70% in the second quarter of 2016-’17. The company said this was because of planned maintenance shutdowns, domestic coal shortages and customer back downs.

“The bidding for coal linkages under the Shakti programme for plants with power purchase agreements, which was held recently, will allow power plants such as our Tiroda and Kawai projects to get an assured supply of domestic coal,” Adani Power Chairperson Gautam Adani said, according to PTI. He said the Saubhagya scheme will help take power connections to several under-served sections of the nation, and that this will increase demand and aid growth.

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Following a mountaineer as he reaches the summit of Mount Everest

Accounts from Vikas Dimri’s second attempt reveal the immense fortitude and strength needed to summit the Everest.

Vikas Dimri made a huge attempt last year to climb the Mount Everest. Fate had other plans. Thwarted by unfavourable weather at the last minute, he came so close and yet not close enough to say he was at the top. But that did not deter him. Vikas is back on the Everest trail now, and this time he’s sharing his experiences at every leg of the journey.

The Everest journey began from the Lukla airport, known for its dicey landing conditions. It reminded him of the failed expedition, but he still moved on to Namche Bazaar - the staging point for Everest expeditions - with a positive mind. Vikas let the wisdom of the mountains guide him as he battled doubt and memories of the previous expedition. In his words, the Everest taught him that, “To conquer our personal Everest, we need to drop all our unnecessary baggage, be it physical or mental or even emotional”.

Vikas used a ‘descent for ascent’ approach to acclimatise. In this approach, mountaineers gain altitude during the day, but descend to catch some sleep. Acclimatising to such high altitudes is crucial as the lack of adequate oxygen can cause dizziness, nausea, headache and even muscle death. As Vikas prepared to scale the riskiest part of the climb - the unstable and continuously melting Khumbhu ice fall - he pondered over his journey so far.

His brother’s diagnosis of a heart condition in his youth was a wakeup call for the rather sedentary Vikas, and that is when he started focusing on his health more. For the first time in his life, he began to appreciate the power of nutrition and experimented with different diets and supplements for their health benefits. His quest for better health also motivated him to take up hiking, marathon running, squash and, eventually, a summit of the Everest.

Back in the Himalayas, after a string of sleepless nights, Vikas and his team ascended to Camp 2 (6,500m) as planned, and then descended to Base Camp for the basic luxuries - hot shower, hot lunch and essential supplements. Back up at Camp 2, the weather played spoiler again as a jet stream - a fast-flowing, narrow air current - moved right over the mountain. Wisdom from the mountains helped Vikas maintain perspective as they were required to descend 15km to Pheriche Valley. He accepted that “strength lies not merely in chasing the big dream, but also in...accepting that things could go wrong.”

At Camp 4 (8,000m), famously known as the death zone, Vikas caught a clear glimpse of the summit – his dream standing rather tall in front of him.

It was the 18th of May 2018 and Vikas finally reached the top. The top of his Everest…the top of Mount Everest!

Watch the video below to see actual moments from Vikas’ climb.

Play

Vikas credits his strength to dedication, exercise and a healthy diet. He credits dietary supplements for helping him sustain himself in the inhuman conditions on Mount Everest. On heights like these where the oxygen supply drops to 1/3rd the levels on the ground, the body requires 3 times the regular blood volume to pump the requisite amount of oxygen. He, thus, doesn’t embark on an expedition without double checking his supplements and uses Livogen as an aid to maintain adequate amounts of iron in his blood.

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This article was produced by the Scroll marketing team on behalf of Livogen and not by the Scroll editorial team.