Earnings Review
Adani Energy Q1 PAT INR 5.1 bln vs INR 8.2 bln loss yr ago
This story was originally published at 17:26 IST on 24 July 2025
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--Adani Energy: Apr-Jun peak demand fell to 2,170 MW vs 2,300 MW yr ago
--Adani Energy: Apr-Jun distribution loss 4.24% vs 5.18% year ago
--Adani Energy: Have 13 projects of INR 593.04 bln underway in transmission
--Adani Energy: Apr-Jun distribution revenue was soft due to early monsoon
--Adani Energy: See INR 900 bln pipeline in transmission in near term
--Adani Energy: Installed 2.4 mln smart meters in Apr-Jun
--Adani Energy Apr-Jun capex INR 22.24 bln vs INR 13.13 bln year ago
--Adani Energy Apr-Jun consol EBITDA INR 20.17 bln vs INR 17.62 bln year ago
--Adani Energy Apr-Jun consol operating EBITDA INR 16.15 bln vs INR 16.28 bln
--Adani Energy Apr-Jun consol operating margin 26.55% vs 30.69% year ago
--Adani Energy Q1 consol other income INR 2.06 bln vs INR 1.11 bln yr ago
--Adani Energy Apr-Jun trading revenue INR 2.10 bln vs INR 1.67 bln yr ago
--Adani Energy Apr-Jun distribution revenue INR 33.60 bln vs INR 33.73 bln
--Adani Energy Apr-Jun transmission revenue INR 21.88 bln vs INR 17.46 bln
--Adani Energy Apr-Jun consol revenue INR 68.19 bln vs INR 53.79 bln yr ago
--Adani Energy Apr-Jun consol PAT INR 5.12 bln vs INR 8.24 bln loss year ago
--Adani Energy Apr-Jun consol PAT INR 5.12 bln
By Sunil Raghu
AHMEDABAD – Adani Energy Solutions Ltd. reported a consolidated net profit of INR 5.1 billion in the June quarter compared to a loss of INR 8.2 billion a year ago, helped by higher revenue from the transmission business and rising contribution from the company's smart metres business amid lower distribution revenue due to early monsoons. Sequentially, the net profit declined 20.8% during the quarter. The company's revenue rose 26.8% year-on-year to INR 68.2 billion during the quarter.
This is the 17th successive quarter that the company's net revenue has grown year-on-year and the fourth consecutive quarter of year-on-year increase in net profit. The net profit of Adani Energy Solutions had grown 79.1% on year in Jan-Mar.
The company's earnings before interest, taxation, depreciation, and amortisation rose 14.5% on year to INR 20.17 billion in Apr-Jun on the back of resilient performance in the transmission and distribution segment and significant contribution from the smart metering business, the company said in a press release. The operating margin for the June quarter fell to 26.6% from 30.7% in the same period a year ago.
The company's revenue from the transmission business grew 25.3% on year to INR 21.88 billion in the June quarter. The revenue from the distribution business fell 0.4% on year to INR 33.60 billion, while revenue from the trading business rose 25.8% on year to INR 2.1 billion.
The company's operating EBITDA for the transmission business fell 0.2% on year to INR 10.7 billion and that of the distribution business declined 7.6% to INR 4.9 billion. Its Apr-Jun consolidated operating EBITDA fell marginally to INR 16.2 billion, compared to INR 16.3 billion a year ago.
Adani Energy's other income was INR 2.1 billion compared with INR 1.1 billion a year ago. The company's consolidated net debt stood at INR 335 billion as of Jun. 30, up from INR 301.7 billion a year ago.
The company's total expenditure in the June quarter, including finance costs, rose 32% on year to INR 58.6 billion. The cost of power purchased rose 28% on year to INR 17.2 billion. The finance costs rose 10.3% on year to INR 8.9 billion. The company reported a tax outgo of INR 1.2 billion in Apr-Jun, compared with INR 1.4 billion a year ago.
The company's distribution revenue was soft in the June quarter due to the early monsoon, despite a fall in distribution loss to 4.2% from 5.2% a year ago. The peak demand during the quarter fell to 2,170 megawatts from 2,300 MW a year ago.
OPERATIONAL UPDATES
The company sold 2.94 billion units of electricity in Apr-Jun, marginally lower than 2.96 billion units a year ago due to the early onset of monsoon. Adani Energy, which distributes power to consumers in Mumbai through its subsidiary Adani Electricity Mumbai Ltd., saw a fall in demand from the industrial sector in the June quarter. However, the demand from residential customers increased.
The company's total transmission network length stood at 26,696 circuit kilometres at the end of the June quarter, up 26% from 21,187 circuit km a year ago, the company had said in a filing in early July. The rise of 5,509 circuit km over the year was led by new order wins, the company had said.
The company had a total of 29 operational projects as of Jun. 30, with a network of 19,633 circuit km and worth INR 533 billion. It has 13 under-construction projects worth INR 593 billion, which will add 7,063 circuit km to its portfolio. Adani Energy hopes to complete these projects in a phased manner by June 2029. The company's capital expenditure in the reporting quarter was INR 22.2 billion, up from INR 13.1 billion a year ago.
Other than transmission lines, the company installed 2.4 million smart meters during Apr-Jun. Adani Energy also has nine pending orders to install 22.8 million smart meters over 10 years at a total cost of INR 272 billion. The company aims to install 7 million smart meters this year, achieving a minimum of 10 million meters cumulatively by end of 2025-26 (Apr-Mar).
On Thursday, shares of Adani Energy Solutions ended at INR 849.05 per share on the National Stock Exchange, down 1.6%. End
Edited by Saji George Titus
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