Equity Funding and Strategic Update
Review of Q3 FY'20 Results
(in million)
3Q FY'19
INR
3Q FY'20
INR
3Q FY'20 Adjustments
US$
3Q FY'19 After
Adjustments
US$
US$
Revenue
2,431
3,047
42.6
1.2
43.8
29%
% Change
Adjusted Q3FY'20 vs
Q3FY'19
3.7
22%
Comments
54% increase in operational MWs partially offset by
extended monsoon (-9% impact on generation) and
low rooftop performance; $1.2 mn adjustment is for
AP curtailment
O&M cost/MW-qtr was 28% lower YoY
Excluding charges related to management transition,
provisions on accounts receivable and other of $3.8
mn, G&A rose 8% YoY.
Cost of Operations
219
267
3.7
General &
Administrative
374
676
9.5
(3.8)
5.6
8%
Expenses
Non-GAAP Adjusted
1,838
2,104
29.5
5.0
34.5
34%
EBITDA*
Depreciation and
476
717
10.0
10.0
51%
Amortization
Interest Expense
1,116 (1)
2,450
34.3
(7.1)
27.2
74% (¹)
Net Profit/(Loss)
165
(1,357)
(19.0)
12.1
(6.9)
(1) 3Q FY19 interest expense includes additional $3.6 Mn interest income from follow on equity proceeds
Exchange rate INR 71.45 to US$1 (New York closing rate of December 31, 2019) / *For a reconciliation of Non-GAAP measures to comparable GAAP measures, refer to the Appendix
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54% YoY increase in operational MWs
Increase in operational MWs, lower interest income
drove increase; excludes $7.1 mn of charges related to
second Green Bond issuance
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