-- Adani Power reported Q4 earnings on Wednesday, showing a surge in consolidated power sale volumes to 27.2 billion units, compared to 26.4 BU for the same period a year ago.
The utility firm said annual volumes climbed to 99.1 BU from 95.9 BU.
Merchant and short-term sales volumes dropped to 5.2 BU in Q4 from 5.6 BU a year earlier, while full-year merchant volumes were broadly stable at 20.9 BU.
The average market-clearing price on the Indian Energy Exchange day-ahead market fell 12.4% year-over-year to 3.88 Indian rupees ($0.04) per kWh in the quarter and down 13.7% to 3.86 rupees per kWh for the full year.
Adani Power secured 1.600 megawatt long-term PPA from Maharashtra State Electricity Distribution Company during the quarter, while its subsidiary Moxie Power Generation signed a 558 MW medium-term PPA with Tamil Nadu's state utility.
The company's installed capacity increased to 18.2 MW, up from 17.6 MW a year earlier.
Meanwhile, power demand in India rose 1.6% year-over-year to 422 BU in the January-March quarter and grew 0.8% to 1.709 BU on an annual basis, compared with 1.695 BU a year earlier.
The company said the country's full-year peak power demand reached 243 gigawatts, below the 250 GW recorded a year ago.