Adani Power said profits fell mainly due to lower one-off revenues from the previous period.The company said that the revenue from operations and other income notes include amounts for previous years, based on the orders received from various regulatory authorities such as MERC/CERC, APTEL and the Supreme Court and coordination with the courts regarding various claims regarding changes in the law, the costs associated therewith and the deferred payment interest.
The company said profitability remained “robust” despite the temporary disruption in demand.
Highlights of the third quarter of 26
–Consolidated electricity sales volume stood at 23.6 BUs in Q3FY26, compared to 23.3 BUs in Q3FY25, despite demand disruption due to early and prolonged monsoon.
— Consolidated sustained total revenue for Q3FY26 stood at Rs 12,717 crore versus Rs 13,434 crore in Q3FY25, despite lower rates and lower other income.
— Consolidated sustained EBITDA for Q3FY26 stood at Rs 4,636 crore versus Rs 4,786 crore for Q3FY25, reflecting earnings resilience in an environment of weak demand growth, the company filing said.
— Continuing profit before tax (PBT) for Q3FY26 was 5.3% higher at Rs 2,800 crore versus Rs 2,659 crore for Q3FY25, mainly due to lower financing costs that offset lower EBITDA.
— The company reported a new long-term power purchase agreement of 3,200 MW from Assam DISCOM.
Management commentary
Commenting on the results, CEO SB Khyalia called the third quarter performance “strong” thanks to robust liquidity, competitive advantages and cost-efficient power plants. “We are moving quickly to secure long-term power purchase agreements for our upcoming capacities, with almost half of our 23.7 GW expansion already locked in PPAs with state DISCOMs. Our project execution is progressing exceptionally well and meeting or exceeding our targets,” Khyalia said.
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