Essar Power Hazira net profit rises by 113% to Rs.128.63 cr in FY21. Essar Power Hazira Ltd, part of Essar Power Ltd and one of India’s first private sector independent power producers, announced its results for the full year ended March 31, 2021.
PAT for FY21 rose by 113% to Rs 128.63 crore as compared to Rs 60.44 crore in FY20. The Total income stood at Rs 427.19 crore in FY21 as compared to Rs 419.52 crore in FY20. Company’s EBIDTA in FY21 rose by 7% to Rs 327.39 crore as compared to Rs 305.02 crore in FY20. Till date 40% of the debt has been serviced to the lenders. The company strives to attain a higher credit rating in this financial year.
Speaking on the results Mr. Kush. S, CEO, Essar Power Ltd. said, “With the onset of the pandemic and ensuing lockdowns, the power industry being an essential service had to step up to keep the engines of our economy going. We are humbled to have contributed to the Nation in such trying times.
From a performance standpoint, Essar Power Hazira has consistently delivered steady growth, and has maintained plant availability of 94% during the year. Essar Power Hazira provides the most reliable and uninterrupted power at the lowest cost to ArcelorMittal Nippon Steel India Limited.”