Adani Power, part of the Adani Group, has clocked over 50 per cent vault in net profit to Rs 109.11 crore in the third quarter against Rs 72.49 crore in the year-ago period.

Sales for the reporting quarter increased 115 per cent at Rs 502.60 crore against Rs 233.59 crore in the year-ago period, the company said in a statement.

The growth in income from operations is largely due to the addition of 330 MW power generation capacity in third quarter, taking the total power generation capacity of Adani Power to 1,320 MW in the third-quarter of 2010-11, the statement said.

Furthermore, the company also sold 1,717.49-million units of electrical energy in the third-quarter as compared to 605.59-million units in the corresponding quarter of the previous year.

Basic and diluted earnings per share before extra-ordinary items for the three-month period ended December 2010 was Rs 0.50 (non-annualised) and for the nine-months stood at Rs 1.60 compared to Rs 0.47 for the nine-month period last year.

"Adani Power is currently implementing 16,500 MW of power generation projects across seven locations in India. Our performance for the Q3 and nine-months ended December 2010 bear testimony to the fact that we are well on our way to achieving our goals of implementing power generation projects totaling 20,000 MW by 2020," Adani Power Chairman Gautam Adani said.

In a filing too the Bombay Stock Exchange, the company announced the appointment of Ravi Sharma as the whole-time director of the company for a period of five years.