Earnings Review
Adani Power Q3 PAT falls YoY for fourth quarter running
This story was originally published at 15:51 IST on 29 January 2026
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--Adani Power Oct-Dec consol PAT INR 24.80 bln
--Adani Power Oct-Dec consol PAT INR bln 24.80 vs INR 30.57 bln year ago
--Adani Power Oct-Dec consol revenue INR 124.51 bln vs INR 136.71 bln yr ago
--Adani Power Apr-Dec consol PAT INR 88.17 bln vs INR 103.02 bln year ago
--Adani Power Apr-Dec consol revenue INR 400.17 bln vs INR 419.66 bln yr ago
--Adani Power Oct-Dec consol other income INR 5.43 bln vs INR 11.62 bln
--Adani Power Q3 consol power sale volume 23.6 bln units vs 23.3 bln units
--Adani Power Oct-Dec consol reported EBITDA INR 47.81 bln vs INR 61.85 bln
--Adani Power Oct-Dec plant load factor 62.6% vs 63.9% year ago
--Adani Power installed capacity 18.15 GW as on Dec 31 vs 17.55 GW yr ago
By Arundathi A R
MUMBAI – Adani Power Ltd. Thursday reported a double-digit year-on-year fall in consolidated net profit for the December quarter. Its consolidated revenue from operations for the quarter also fell on year in the high single digit after a marginal recovery in the trailing quarter. The company's bottom line fell for the fourth consecutive quarter.
Adani Power's net profit for the December quarter fell almost 19% on year to INR 24.80 billion. Its consolidated revenue fell almost 9% on year to INR 124.51 billion. On a sequential basis also, the company posted a fall in both metrics for the quarter, with the bottom line falling 16% and the top line declining over 7%.
For the nine months ended December, Adani Power reported a fall of over 14% on year in net profit to INR 88.17 billion. The company's revenue from operations fell nearly 5% on year to INR 400.17 billion for the same period.
The company reported a double-digit on-year fall in other income for the December quarter after a rise of nearly 18% in the September quarter. For the December quarter, Adani Power's other income fell over 53% on year to INR 5.43 billion.
Adani Power's consolidated reported earnings before interest, tax, depreciation, and amortisation were INR 47.81 billion, down nearly 23% on year.
The consolidated power sales volume of the company for the reporting quarter was 23.6 billion units, up marginally on year. The power sales rose despite tepid demand due to the prolonged monsoon, the company said in its press release.
Its plant load factor for the December quarter was 62.6%, down from 63.9% in the December quarter a year ago. Its installed capacity as on Dec. 31 was 18.15 gigawatts, up from 17.55 gigawatts a year ago.
The company has received a letter of award from Assam Power Distribution Co. Ltd. for the supply of power on a long-term basis, the company said in its release. This comprises the entire capacity of a 3.2 gigawatt greenfield ultra-supercritical thermal power plant to be set up in Assam on a design, build, finance, own, and operate model, the company said.
Weak power demand and a rise in penetration of renewable energy led to lower offtake under some power purchase agreements and lower merchant volumes in the December quarter, according to the press release.
Adani Power posted its December quarter earnings during market hours. The company's shares closed 0.6% lower at INR 133.88 on the National Stock Exchange. End
Edited by Rajeev Pai
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