January 2024 - Page 7 of 39 - Lokmarg

India, France Agree To Adopt Defence Production Roadmap: Kwatra

By LokMarg 26th January 2024

India and France agreed to adopt the Defence Industrial Roadmap and explore opportunities for partnership in the defence industrial sector and prioritise co-designing, co-development and co-production, Ministry of External Affairs (MEA) said on Friday.

In a press briefing regarding French President Emmanuel Macron’s ongoing state visit to India, Foreign Secretary Vinay Kwatra said that both countries agreed upon the production and manufacturing to harness the compatibilities and competencies to further strengthen defence cooperation.

“The two countries have agreed to adopt a defence production roadmap. Now, the name itself is very clear that the focus and the priority of defence cooperation through this roadmap is to actually identify opportunities for partnership in the defence industrial sector that prioritize co-designing, co-development, coproduction with the whole, and also building the defence supply chains between the two countries,” he said.

He added, “In terms of the range of domains, including the technology space that the industrial roadmap will aim to achieve, it would include both air and space technologies, maritime technology, including the underwater domain awareness. It’s a new space which is coming up naturally, the equipment and the systems related to the land warfare, and also robotics and artificial intelligence as also autonomous vehicles and platforms, and cyber defence.”

French President Emmanuel Macron is on a visit to India and was also the Chief Guest in the Republic Day Parade today.

Kwatra also described the details of the third visit of the French President to India and shared that in this visit President Emmanuel Macron is accompanied by a 40-member delegation.

He said, “French President is accompanied by a 40-member strong delegation. The delegation includes three ministers, ministers of foreign affairs, defence and culture. As we speak, the external affairs minister is meeting his French counterpart, the newly appointed foreign Minister of France Stephane Sejourne…This is the 6th time that a French leader has come for India’s Republic Day, the maximum for any country…”

When asked about the Safran-India Shakti jet engines deal, the Indian envoy to France, Jawed Ashraf informed that the issue has always been a discussion between the two leaders and is part of the defence industry roadmap.

He said, “This is a subject of ongoing discussions… Now, the issue is really about arriving at a set of specifications that comply with our future fighter jet requirements. So this always features in the conversation between the President and the Prime Minister, because what we are looking for is not just a manufacturing transfer of technology, which essentially keeps you going with the same crutches that you have been going on for the last six decades but to work in the actual design phase, metallurgical aspects, etc.”

Envoy Jawed Ashraf added, “So Safran is fully willing to do it with 100 per cent transfer of technology in design development, certification, production and so on and so forth. But it’s obviously a very complex subject, and it has to fit in with the overall future requirements. So these discussions will continue to take place, and that’s also part of the defence industry roadmap.”

Earlier in the day, a 95-member marching contingent and a 33-member band contingent from France participated in the 75th Republic Day Parade in New Delhi.

French President Emmanuel Macron on Friday expressed his thanks for the “great honour for France” as his country’s troops and aircraft are invited to march in the 75th Republic Parade of India.

“A great honor for France. Thank you, India,” posted Marcron on X as Kartavya Path witnessed a march past by a combined band and marching contingent of the French Armed Forces.

The marching members were drawn from the French Foreign Legion, a well-known and unique corps of about 10,000 men from around the world, including India, who marched on the Kartavya Path.

This came a few months after Indian troops and aircraft paraded in Paris for the 2023 Bastille Day.

Macron, who arrived in India on Thursday in Jaipur held a bilateral discussion with Prime Minister Modi.

PM Modi said that it is a matter of great pride that the French President was participating in the 75th Republic Day celebrations in New Delhi. (ANI)

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No Sign Of Nitish Joining NDA: Akhilesh

By LokMarg 26th January 2024

Akhilesh Yadav, the Samajwadi Party Chief and ally of the INDIA bloc on Friday said that there is “no sign” of Bihar Chief Minister Nitish Kumar, a key figure in the opposition alliance returning to the NDA.

Speaking to the reporters here, Yadav also expressed his hope that Nitish will strengthen the INDIA alliance, formed to take on the BJP-led central government in the upcoming general elections.

“There is no such sign. We hope that Nitish Kumar will not go to NDA. He will strengthen the INDIA alliance,” Yadav said.

Notably, the unity of the Indian National Developmental Inclusive Alliance (INDIA) appeared in jeopardy amid growing speculation that Nitish Kumar, a key figure in the bloc may exit the 28-party Opposition bloc, formed to take on the BJP-led Central government.

Also when Former Bihar Chief Minister and RJD President Lalu’s daughter Rohini Acharya took a swipe at RJD’s ruling ally, JDU, on X posting that while the ‘socialist party’ (JDU) styles itself as progressive, its ideology shifts with the changing wind patterns, a statement which triggered cracks within the ruling alliance.

However, a few hours later, all three posts by Lalu’s daughter were deleted.

If Nitish crosses over, this would be the fourth time he would be switching sides.

In the Bihar Assembly of 243, the RJD has 79 MLAs; followed by the BJP’s 78; the JD(U)’s 45′ the Congress’s 19, the CPI (M-L)’s 12, two each of the CPI(M) and CPI, the Hindustani Awam Morcha (Secular)’s four seats, and the AIMIM’s one, plus one Independent legislator.

Amid talk of a deepening rift, the RJD and JD(U), on Thursday, held separate meetings while BJP state president Samrat Choudhary left for Delhi to hold discussions with top BJP leaders.

Giving more weight to the possible entry of Nitish Kumar into NDA, Bharatiya Janata Party MP and former Deputy Chief Minister of Bihar, Sushil Kumar Modi on Friday said that doors are never closed “permanently” in politics.

“In yesterday’s meeting, strategies for (the upcoming) Lok Sabha elections were discussed. But as far as Nitish Kumar and JD(U) are concerned, doors are never closed permanently in politics. Now our central leadership will decide whether the door will open or not,” Sushil Modi told reporters before returning to Patna.

Nitish Kumar defeated the BJP in the 2015 assembly elections, in alliance with the RJD. However, two years later, he dumped Lalu Yadav’s party and joined the NDA.

Sushil Modi was Deputy Chief Minister in the NDA government in Bihar in 2022, before Janata Dal (United) supremo Nitish Kumar severed ties with the ally BJP and partnered with the RJD and the Congress again.

Armed with the support of the ‘Mahagathbandhan’ (Grand Alliance) Kumar quit the BJP in August 2022 and stripped the party out of power. (ANI)

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UP Tableau Symbolising Lord Ram’s Pran Pratishtha Takes Part In R-Day Parade

By LokMarg 26th January 2024

The Republic Day 2024 tableau of Uttar Pradesh took part in the 75th Republic Day parade at Kartavya Path in Delhi. The theme of the tablueau was Ayodhya-Vikshit Bharat-Samradh Virasat.

Ayodhya, a city steeped in historical and religious significance, is the birthplace of Lord Shri Ram. The Pran Pratishtha ceremony of Lord Ram Lalla was held in Ayodhya on January 2022. The front of the tableau symbolised this event, showcasing the childhood image of Ram Lalla.

The Pran Pratishtha of Ram Lalla at Ram Temple in Ayodhya was held on Monday this week. The Ram Lalla idol was unveiled at the Pran Pratishtha ceremony after the hour-long rituals in the presence of Prime Minister Narendra Modi who led the ceremony.

The event saw the participation of about 8,000 invitees, including 1,500-1,600 eminent guests.The ‘Ram Nagri’ Ayodhya also grabbed global eyeballs, with earthen lamps or diyas lit up on a massive scale and crackers going up and dazzling the night sky in different parts of the city.

The state’s Republic Day 2024 trailer reflected Uttar Pradesh’s path and pace of progress propelled by cultural heritage. The trailer featured two sadhus with the Kalash symbol, emblematic of the upcoming Magh Mela in Prayagraj and the Mahakumbh to be held in 2025.

The frill surrounding the tableau portrays ‘Deepotsav’ the festival of lights initiated by the state government to commemorate Bhagwan Shri Ram’s arrival in Ayodhya.

LED screen showsdynarnic image of the fast- paced construction work of the world’s fourth largest international airport Jewar Airport. Alongside, is the world’s largest mobile phone manufacturing factory operating from Noida and extensive expressway network of the state. Uttar Pradesh boasts of six operational and seven under construction expressway.

Uttar Pradesh’s commitment to the Make in India initiative and development of India is depicted by the BrahMos missile, likened to a swift thunderbolt in its impact on the enemy and the first ever operational high-speed rail service (RRTS) in the country, connecting Ghaziabad to Duhai.

A group of six women artists accompanying the tableau performed traditional dances Charkula and Wadhwa popular in the Braj region. It illustrated how the folk festival inspired by the Leelas of Bhagwan Shri Krishna was an integral aspect of the cultural heritage. (ANI)

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Manipur Tableau Themed Five Centuries Old All-Women Lotus Fibre Market

By LokMarg 26th January 2024

Manipur’s Ima Keithel or “Mother’s Market, a 500-year-old market, the one and only in the world run entirely by women, is the central theme of the state’s tableau that was showcased to the nation from Kartavya Path.

The women-run market in Manipur’s Imphal serves as a classic example of “Nari Shakti,” where women’s central role in socio-economic activities drives the nation’s economic development.

On the tableau, women are seen extracting delicate fibers from the lotus stems, and making yarns using traditional Charkhas.

In the center, a woman is weaving clothes using “Eyong” – a traditional Manipuri loom.

The building on the end of the tableau is a replica of Ima Keithel. Ima Keithel fosters the spirit of innovation and entrepreneurship.

They have gifted the world with many internationally acclaimed products like Leirum, Moirang Phi, and Mayek-Naibi.

Kumari Bijiyasanti Tongbram from Thanga village, nestled in the heart of Loktak Lake, recently became India’s first lotus silk producer. She not only employs many local women but also exports lotus silk to foreign countries, establishing India as the world’s fourth nation to export lotus silk.

Her remarkable achievements earned her the prestigious “Changemaker of the Northeast 2020” award.

‘The thriving Ima Keithel and_ Bijiyasanti’s inspiring journey; transforming local lotus stalks into lotus threads for export while empowering local women embodies the spirit of ‘Vocal for Local, Local for Global.

In essence, Manipur offers a replicable model for women’s empowerment, paving the way for development into a “Viksit Bharat”.

India is celebrating the country’s Republic Day with an enthralling showcase of its military prowess and rich cultural heritage at the majestic ‘Kartavya Path’ in the national capital.

Viksit Bharat’s rich cultural diversity, the ‘Aatmanirbhar’ military prowess and the growing Nari Shakti are the dominating themes of the 90-minute parade that will be graced by French President Emmanuel Macron as Chief Guest.

For the first time ever, an all-women Tri-Service contingent will be marching down the Kartavya Path. Women pilots will also enthral the audience during the Indian Air Force’s fly-past, representing Nari Shakti (women power).

Based on the twin themes of ‘Viksit Bharat’ and ‘Bharat – Loktantra ki Matruka’, this year’s parade will witness the participation of around 13,000 special Guests – an initiative which will provide an opportunity to people from all walks of life to take part in the celebrations and encourage Jan Bhagidari in this national festival.

Tableaux of 16 States and nine ministries will also take part.

The grand performance includes 30 folk dance styles uniquely prevalent in different states, as well as contemporary classical dance and Bollywood styles. The artists include tribal dancers, folk dancers, and classical dancers.

As per officials, over 8,000 security personnel have been deployed and security has been increased with the help of technology and human intelligence surveillance in Delhi. (ANI)

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Several Flights, Trains Delayed Due To Dense Fog : Delhi

By LokMarg 26th January 2024

The movement of flights and passenger trains to and from the National Capital continued to remain affected on Friday due to dense fog and adverse weather conditions.

Delays plagued departures and cancellations for domestic air travel and added to the woes of the passengers.

At least 22 domestic departures were delayed, while 5 flights were cancelled, impacting thousands of travellers. International travel appeared relatively unaffected. While 17 international flights arrived in India, only 9 international departures took place.

The mercury dipped to 4.7 degrees Celsius in the national capital on Friday, the India Meteorological Department (IMD) said.

As per the IMD, Lodhi Road recorded a minimum temperature of 4.4 degree Celsius, Safdarjung recorded 4.4 degrees Celsius, while the Ayanagar, Ridge and Palam areas of the national capital recorded 4.9, 3.2 and 7.1 degrees Celsius.

According to Northern Railways, around 34 long-distance trains to Delhi were delayed on Friday due to fog and poor visibility conditions.

Train passengers arriving in Delhi on January 26, faced significant delays, with over 34 trains arriving behind schedule. The Puri-New Delhi Purushottam Express topped the list, running a staggering 6 hours and 30 minutes behind schedule. Other notable delays included the Kanpur-New Delhi Shramshakti Express (2 hours 30 minutes late), the Katihar-Amritsar Express (3 hours 45 minutes late), and the Saharsa-New Delhi Vaishali Express (2 hours 30 minutes late).

Rajdhani Express trains were also affected, including the Howrah-New Delhi Rajdhani Express (2 hours 30 minutes late), the Rajendranagar-New Delhi Rajdhani Express (3 hours 30 minutes late), and the Bhubaneshwar-New Delhi Rajdhani Express (6 hours 30 minutes late).

According to the IMD, ‘very dense’ fog is when visibility is between 0 and 50 metres, 51 and 200 metres is ‘dense’, 201 and 500 metres ‘moderate’, and 501 and 1,000 metres ‘are ‘ shallow’.

Noting the cold wave conditions in parts of north India, IMD, said, “Visibility recorded (at 0830 hours IST of today) (<=200 metres): East Uttar Pradesh: Lucknow, Bahraich and Prayagraj-25, Fursatganj-50 Sultanpur-200; Uttarakhand: Pantnagar-25; Haryana, Chandigarh: Ambala-25, Chandigarh & Karnal-50 each, Hissar-200; West Uttar Pradesh: Bareilly25, Jhansi-50, Agra-150; Punjab: Ambala, Ludhiana & Patiala-50 each, Bhatinda-100; north Rajasthan: Churu & Jaipur-50 each, Bikaner-100, Ganganagar-200; Sub-Himalayan West Bengal: Jalpaiguri & Cooch Behar-50 each; Tripura: Agartala-50; Jammu Division,” (ANI)

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All-Women Tri-Service Contingent March At Kartavya Path With Pride

By LokMarg 26th January 2024

As India celebrated its 75th Republic day on Friday, Kartavya Path witnessed the might of All-women Tri-Services contingent comprising Agniveers.

The 75th Republic day focus on the themes of ‘Nari Shakti’ and ‘Viksit Bharat’.

The Tri-Services women contingent represents Jointness, Integrity and Synergy amongst the services. This is the first time a women soldiers contingent representing all three services is marching in the Republic Day with pride and Elan. The motto of the Tri Service women contingent is ‘Seva Tatha Sahayata’.

The contingent comprises of women soldiers from the Corps of Military police of Army, Navy and Air Force. Women military police have been deployed in various units and establishments in Counter Insurgency Areas, Siachen glacier, High Altitude Ares as well as in the Desert terrain. They have performed exceptionally in various Joint Exercises and UN Mission.

The all women contingent from Tri services was led by Captain Sandhya of Military Police with 3 supernumerary officers, Capt Shranya Rao, Sub Lt Anshu Yadav and Flt Lt Shrishti Rao.

They have actively participated in adventure activities like Sky Diving and Shwet Ashwa Motorcycle Display Team. Since the opening of women entry through Agnipath scheme, 450 Agniveer Vayu in Air Force, and 1100 Women Agniveers in Army have completed their training and inducted in various trades and branches.

Earlier, President Droupadi Murmu commenced the celebrations of the 75th Republic Day on Friday by unfurling the national flag at Kartavya Path.

President Murmu on her arrival at Kartavya Path was received by Prime Minister Narendra Modi.

Simultaneously, the National Anthem was played and the 21 Gun Salute was presented to the President.

President Murmu and her French counterpart Emmanuel Macron, who is the chief guest at this year’s Republic Day celebration were escorted by the President’s Bodyguard- ‘Rashtrapati Ke Angrakshak’.

The President’s Bodyguard is the seniormost Regiment of the Indian Army. This Republic Day is special for this elite Regiment as the ‘Angrakshak’ has completed 250 years of service since its raising in 1773.

The two Presidents arrived at Kartavya Path in the ‘Traditional Buggy’, a practice which made a comeback after a gap of 40 years. (ANI)

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Murmu Unfurls Tricolour, Takes Ceremonial 21-Gun Salute

By LokMarg 26th January 2024

President Droupadi Murmu commenced the celebrations of the 75th Republic Day on Friday by unfurling the national flag at Kartavya Path.

President Murmu on her arrival at Kartavya Path was received by Prime Minister Narendra Modi.

Simultaneously, the National Anthem was played and the 21 Gun Salute was presented to the President.

As per tradition, the National Flag was unfurled followed by the National Anthem with a booming 21-gun salute given with indigenous gun system 105-mm Indian Field Guns.

President Murmu and her French counterpart Emmanuel Macron, who is the chief guest at this year’s Republic Day celebrations were escorted by the President’s Bodyguard- ‘Rashtrapati Ke Angrakshak’.

The two Presidents arrived at kartavya Path in the ‘Traditional Buggy’, a practice which made a comeback after a gap of 40 years.

The Commandant of the President’s Bodyguard Colonel Amit Berwal, rode to the right of the President’s Buggy, leading this elite body of horsemen. To the left of the President’s Buggy is the Second-in-Command of the Regiment Lt Col Ramakant Yadav.

Four Mi-17 IV helicopters of the 105 Helicopter Unit showered flower petals on the audience present at Kartavya Path. This was followed by ‘Aavaahan’, a band performance by over 100 women artists playing various types of percussion instruments, symbolising Nari Shakti.

The Gun Salute was presented by the Ceremonial Battery of 871 Field Regiment (SHINGO) ex HQ 36 Artillery Brigade. The Ceremonial Battery is commanded by Lieutenant Colonel Vikas Kumar, SM.

The Gun position officer is Subedar (AIG) Anoop Singh. The 21 Gun Salute was given with 105 mm Indian Field Guns, the indigenous gun system on Kartavya Path.

21 Gun Salute is the highest military honour presented to the National Flag from the Kartavya path. The gun salute is synchronized with three simultaneous actions viz-a-viz, unfurling of the National Flag, Playing of the National Anthem by the Service bands and the national salute rendered by the President’s Bodyguard.

Last year, for the first time, the 21 Gun Salute was given with 105 mm Indian Field Guns replacing the vintage 25-pounder gun.

The 21 Gun Salute is presented during Republic Day, Independence Day and visits of foreign Heads of State.

The President’s Buggy is being led by Risaldar Sunder Singh Tanwar astride ARJUN.

The President’s Bodyguard is a unique Airborne Cavalry Regiment’ and distinct amongst all Regiments not only in India but also in the whole world, as it performs a multitude of roles.

It is the senior-most Cavalry Regiment carrying out mounted ceremonial duties for the President.

The ceremonial escort under the Commandant consisted of two divisions, one in front of the President’s Buggy and one in the rear. The ‘Nishaan Toli’ carrying the National Flag and two Nishaans of the Regiment were in the centre.

The front division was commanded by the Risaldar Major Ajay Kumar. Immediately behind the President’s Buggy was the Trumpeter on his grey steed Alexander followed by the Nishaan Toli.

The National Flag was carried by Risaldar Bhawani Singh, Nishaan of the President’s Standard of Bodyguard, carried by Risaldar Kulbir Singh and the Regimental Standard was carried by Rajender Singh. The rear division was under the command of Risaldar Satnam Singh.

French President Emmanuel Macron is the chief guest at this year’s R-Day parade.

He is the fifth French leader to be the chief guest on Republic Day. (ANI)

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French Contingent Participates In 75th R-Day Parade

By LokMarg 26th January 2024

A few months after Indian troops and aircraft paraded in Paris for the 2023 Bastille Day, a 95-member marching contingent and a 33-member band contingent from France participated in the 75th Republic Day Parade in New Delhi today.

The French detachment marching is drawn exclusively from the French Foreign Legion, a well-known and unique corps strong of about 10000 men from all around the world, including India.

Kartavya Path witnessed a march past by a combined band and marching contingent of the French Armed Forces. The band contingent was headed by Captain Khourda and followed by a marching contingent led by Captain Noel.

Then it was followed by the second Infantry regiment of the French Foreign Legion comprising 90 legionnaires led by Captain Noel. The Legionnaires wear the famous ‘White Cap’, which can be worn only by legionnaires who successfully went through four months of hard selection tests.

The best legionnaires get promoted and wear the ‘Black Cap’.

French President Emmanuel Macron is attending as a chief guest at India’s 75th Republic Day celebration.

This marks a unique reciprocal exchange following Prime Minister Narendra Modi’s visit to France on its National Day in July 2023.

This momentous visit by Macron culminates in the 25th-anniversary celebrations of the Strategic Partnership between India and France.

Macron was earlier welcomed in Jaipur on Thursday where he held a bilateral discussion with the Indian Prime Minister

“Taking India-France Strategic Partnership to greater heights! Productive discussions held between PM @narendramodi and President @EmmanuelMacron of France in Jaipur. The two leaders took stock of bilateral ties & exchanged perspectives on a wide-range of bilateral and global issues,” Ministry of External Affiars (MEA) Official Spokesperson Randhir Jaiswal wrote on X.

PM Modi said that it is a matter of great pride that the French President will be taking part in the 75th Republic Day celebrations in New Delhi on Friday.

He said that Macron’s presence not only strengthens the ties between the two nations but also adds a significant chapter to “our shared history of friendship and collaboration.”

PM Modi and President Macron have engaged in a series of high-profile meetings throughout 2023, underscoring the strength and depth of the bilateral relationship.

Their interactions have spanned various global platforms, including the COP 28 Summit in Dubai, the G20 Leaders’ Summit, and the G7 Summit in Hiroshima. Notably, President Macron was also the Guest of Honour at the Bastille Day Celebrations in France in July 2023.

This is the sixth time (the highest for any country) a French leader is participating in India’s biggest ceremonial event.

This tradition began with President Jacques Chirac in 1976, followed by Valery Giscard d’Estaing in 1980, Nicolas Sarkozy in 2008, and Francois Hollande in 2016.

Prime Minister Narendra Modi’s last visit to France for Bastille Day in July 2023 was a spectacle of symbolism and substance. The visit showcased the strong bonds between the two nations, with a tri-service Indian armed forces contingent marching at Champs-Elysees and a spectacular flypast by Rafale jets. (ANI)

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Democratic System In India Much Older Than Concept Of Western Democracy: Murmu

By LokMarg 25th January 2024

Extending greetings to people on the eve of the 75th Republic Day, President Droupadi Murmu on Thursday said that it is truly a historic milestone in the journey of the nation in many ways.

In her Address to the Nation on the eve of Republic Day, the President said that the democratic system in India is much older than the concept of Western democracy and that is the reason why India is called the “mother of democracy”.

“Tomorrow is the day when we celebrate the commencement of the Constitution. Its Preamble begins with the words ‘We, the People of India’, highlighting the theme of the document, namely, democracy. In India, the democratic system is much older than the concept of Western democracy. That is the reason why India is called the “mother of democracy,” she said.

The President said the nation gratefully remembers the leaders as well as the officials who contributed to the framing of “our splendid and inspiring” Constitution.

“My heartiest greetings to all of you on the eve of the 75th Republic Day! My heart is filled with pride when I look back and see how far we have travelled despite adversities. The 75th year of the Republic is truly a historic milestone in the journey of the nation in many ways. This is an especially festive occasion, just as we celebrated the unique greatness and diverse culture of our nation during the Azadi ka Amrit Mahotsav, when we completed 75 years of Independence,” she said.

She said India became free from foreign rule on August 15 after a long and difficult struggle.

“The task of framing the principles and processes that would govern the country and unleash its true potential was still a work in progress. The Constituent Assembly spent nearly three years holding detailed discussions on all aspects of governance and produced the great founding document of our nation, the Constitution of India,” she added. (ANI)

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Adani Group Net Profit Rises To Rs 2,738 Cr In October-December Quarter

Adani Power’s Net Profit Rises To Rs 2,738 Cr In October-December Quarter

By LokMarg 25th January 2024

Adani Power reported a sharply higher consolidated profit after tax during the October-December quarter of the current financial year 2023-24 at Rs 2,738 crore versus only Rs nine crore reported during the same quarter of the preceding year.

The Adani Group company attributed the rise in net profits to improved EBITDA. EBITDA, or earnings before interest, taxes, depreciation, and amortization, is an alternative measure of a company’s overall financial performance.

The company’s consolidated profit after tax for the three quarters of 2023-24 is higher by 230 per cent at Rs 18,092 crore versus Rs 5,484 crore it reported same period last year. The company similarly attributed the growth to higher EBITDA.

Coming to the company’s consolidated continuing total revenue for the October-December quarter, it was higher by 72 per cent at Rs 13,405 crore versus Rs 7,773 crore during the same quarter of the preceding year, mainly due to greater sales volumes.

In three quarters of 2023-24 combined, the consolidated continuing total revenues were higher by 40 per cent at Rs 37,173 crore versus Rs 26,604 crore last year, attributable to greater sales volumes.

Further, consolidated continuing EBITDA for the October-December quarter more than tripled to Rs 5,059 crore versus Rs 1,479 crore last year, due to greater revenues and lower import fuel prices.

During the April-December period, the consolidated continuing EBITDA more than doubled to Rs. 13,516 crore versus Rs 6,210 crore same period of 2022, driven by higher revenues and lower import fuel prices.

Adani Power Ltd, a part of Adani group of companies, on Thursday announced the financial results for the third quarter that ended in December 2023.

“Adani Power continues to demonstrate its leadership across domains by achieving ever higher standards of excellence, as evidenced by the financial results for the third quarter of FY 2023-24,” SB Khyalia, CEO, Adani Power Limited, said, commenting on the earnings.

The ongoing brownfield capacity expansion of 1,600 MW at Mahan is on track, while we are moving ahead to extend our leadership further inorganically. We are excited to be a part of nation-building efforts through provision of reliable electricity supply from our highly efficient power plants while keeping sustainability goals at the forefront of our agenda,” the CEO further noted.

The operating performance for the October-December quarter includes the 1,600 MW Godda ultra-supercritical thermal power plant of Adani Power’s subsidiary Adani Power (Jharkhand) Limited (APJL), which was commissioned in the April-June quarter.

During the third quarter as well as the nine months of 2023-24, higher volumes were contributed by the Mundra, Udupi, Raipur, and Mahan plants apart from the incremental contribution of the Godda power plant, which has quickly become an important part of the power supply ecosystem of Bangladesh.

Adani Power said that its domestic power sales volumes were driven by growing power demand across India and offtake under Power Purchase Agreements (“PPAs”) was further supported by falling prices of imported coal and alternate fuel.

The Adani Group company has an installed thermal power capacity of 15,210 MW spread across eight power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, and Jharkhand, apart from a 40 MW solar power plant in Gujarat. (ANI)

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