Adani Power Posts Strong Q3 Profit Despite Monsoon-Led Demand Disruption

The company reported a Consolidated Profit After Tax for Q3 FY26 of Rs 2,488 crore against Rs 2,940 crore in Q3 FY25, mainly due to lower one-time prior-period income.

It primarily reflects the effect of lower one-time prior period income recognized during the quarter, as compared to the corresponding quarter of FY25, Adani Power said in its results announcement.

The company recorded a stable Consolidated Continuing Total Revenue for Q3 FY26 at Rs 12,717 crore against Rs 13,434 crore in Q3 FY25, despite lower rates and lower other income.

Continuing EBITDA for the quarter came in at Rs 4,636 crore, underscoring earnings resilience in a weak demand environment reflecting earnings resilience in a weak demand growth environment.

Adani Power also reported consolidated power sale volume of 23.6 Billion Units in Q3 FY26, against 23.3 BU in Q3 FY25, despite demand disruption due to early and prolonged monsoon.

"All-India power demand for Q3 FY26 0.1% lower at 392.2 Billion Units vs 392.6 BU in Q3 FY25 due to extended monsoons, cooler temperatures, and high base effect. Demand growth of 0.5% to 1,287 BU in 9M FY26, vs 1,280 BU in 9M FY25," a release said.

During the nine months of the current fiscal, the consolidated power sale volume grew by 3.4% to 71.8 BU in 9M FY26, against 69.5 BU in 9M FY25 due to higher effective operating capacity.

Further, the company recorded a consolidated Continuing Total Revenue for 9M FY26 at Rs 40,524 crore against Rs 41,951 crore in 9M FY25 due to lower power selling rates and lower other income.

S B Khyalia, CEO of Adani Power Limited, said, "Adani Power continues to deliver strong performance and maintain robust liquidity, thanks to our significant competitive advantages and cost-efficient power plants. We are swiftly securing long-term power purchase agreements for our upcoming capacities, with nearly half of our 23.7 GW expansion already tied up in PPAs with State DISCOMs. Our project execution is progressing exceptionally well, meeting or exceeding our targets. We are proud to support the States in achieving their development goals by providing reliable and affordable power."

"Our confidence in India's long-term power demand remains unwavering, and we recognize the essential role of thermal power in the country's energy mix. Adani Power is fully dedicated to strengthening India's energy security and is eager to embrace new opportunities that will contribute to a prosperous and sustainable future for all," Khyalia added.

Adani Power also said that in Q3 FY25, it secured a long-term power purchase agreement (PPA) for 3.2 GW from Assam DISCOM, taking its total expansion capacity tie-ups to 11.7 GW.

The company also raised funds through the issuance of AA rated Non-Convertible Debentures (NCDs) of Rs 7,500 Crore, in four tranches of two- to five-year tenures, through private placement with marquee investors.

- ANI