Earnings Review
Adani Energy's Q3 sales up over 15%, PAT falls on tax outgo
This story was originally published at 18:24 IST on 22 January 2026
Register to read our real-time news.Informist, Thursday, Jan. 22, 2026
Please click here to read all liners published on this story
--Adani Energy Oct-Dec consol PAT INR 5.52 bln
--Adani Energy Oct-Dec consol revenue INR 67.30 bln
--Adani Energy Oct-Dec consol PAT INR 5.52 bln vs INR 5.62 bln year ago
--Adani Energy Oct-Dec consol revenue INR 67.30 bln vs INR 58.30 bln yr ago
--Adani Energy Apr-Dec consol PAT INR 15.99 bln vs INR 4.13 bln year ago
--Adani Energy Apr-Dec consol revenue INR 201.45 bln vs INR 173.93 bln yr ago
--Adani Energy Oct-Dec transmission revenue INR 24.26 bln vs INR 20.35 bln
--Adani Energy Oct-Dec distribution revenue INR 31.04 bln vs INR 29.72 bln
--Adani Energy Oct-Dec trading revenue INR 2.55 bln vs INR 3.45 bln
--Adani Energy Oct-Dec smart meter ops revenue INR 2.35 bln vs INR 168.7 mln
--Adani Energy Oct-Dec consol operating margin 29.65% vs 28.48% year ago
--Adani Energy Oct-Dec consol operating EBITDA INR 18.02 bln vs INR 15.85 bln
--Adani Energy Oct-Dec capex INR 33.18 bln vs INR 30.74 bln year ago
--Adani Energy Q3 smart metering capex INR 6.93 bln vs INR 3.74 bln year ago
--Adani Energy installed 1.89 mln smart meters in Oct-Dec vs 860,000 yr ago
By P. Madhu Kumar
MUMBAI – Adani Energy Solutions Ltd. reported a significant growth on a year-on-year basis in its top line for the December quarter, supported by a jump in sales across its transmission, distribution, and smart meter operation segments. However, the company's consolidated net profit fell marginally on year due to a tax outgo of INR 2.26 billion against a tax writeback of INR 661 million in the year-ago quarter.
The power transmission and distribution company's consolidated net revenue rose over 15% on year to INR 67.30 billion, while its net profit fell around 2% to INR 5.52 billion. Apart from the tax outgo, the company's bottom line was also hit by an over 47% on-year jump in other expenses. The company's total expenses were INR 58.03 billion, up nearly 17% on year.
The company's revenue from its transmission segment was INR 24.26 billion compared to INR 20.35 billion in the corresponding quarter a year ago. Revenue from its distribution segment was INR 31.04 billion against INR 29.72 billion in the year-ago quarter.
Adani Energy's aggregate transmission projects under construction stand at INR 777.87 billion and smart metering order book is of 246 million meters with a revenue potential of INR 295.19 billion, the company said in a press release. "The near-term tendering pipeline in the transmission sector is solid at Rs 1 lakh crore (INR 1 trillion). Whereas the countrywide market opportunity in smart metering remains robust at 103 million meters," the company added.
In its distribution segment, Adani Electricity Mumbai Ltd. sold 2,487 million units in the December quarter, compared to 2,574 million units sold in the year ago quarter. The distribution loss achieved in Adani Electricity network was one of the lowest at 4.03% in the reporting quarter, according to the company.
Adani Energy's trading business saw a fall of over 26% on year during the quarter to INR 2.54 billion. The revenue from its smart meter operation business was INR 2.35 billion, compared with INR 168.7 million in the corresponding quarter a year ago.
For the nine months ended December, the company's consolidated net profit jumped up nearly fourfold on year to INR 15.99 billion from INR 4.13 billion a year ago. Its top line was INR 201.45 billion as against INR 173.93 billion in the year ago period.
The company's operating margin for the quarter rose 117 basis points on year to 29.65%. The operating earnings before interest, tax, depreciation, and amortisation for the quarter was INR 18.02 billion, nearly 14% higher than INR 15.85 billion a year ago.
Adani Energy's capital expenditure during Oct-Dec was INR 33.18 billion, nearly 8% higher than INR 30.74 billion a year ago. The company's expenditure on its smart metering segment nearly doubled to INR 6.93 billion. The company spent some of the capital expenditure dedicated to this segment to install 1.89 million smart meters during the quarter, up from 860,000 million smart meters installed a year ago.
Adani Energy announced the earnings towards the end of market hours on Thursday. Its shares ended nearly 3% higher at INR 924.80 on the National Stock Exchange. End
Edited by Ashish Shirke
For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.
Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.
Informist Media Tel +91 (22) 6985-4000
Send comments to feedback@informistmedia.com
© Informist Media Pvt. Ltd. 2026. All rights reserved.
To read more please subscribe
