Adani Power Ltd. reported a strong financial performance for the fourth quarter, with consolidated profit surging 64 percent year-on-year to ₹4,271 crore. The growth was driven by improved operational efficiency and lower tax expenses, even as overall power demand remained somewhat volatile during the period. The results highlight the company’s ability to sustain profitability despite fluctuations in market conditions.
The company also posted robust earnings growth, with EBITDA rising 27 percent year-on-year to ₹6,498 crore. Revenue for the quarter increased by 10 percent to ₹15,989 crore, supported by steady demand and improved realisations. Meanwhile, consolidated continuing revenue stood at ₹15,059 crore compared to ₹14,522 crore in the same period last year, indicating stable core business performance.
On the operational front, Adani Power recorded steady gains in electricity generation and sales. Power sale volumes increased to 27.2 billion units (BU) during the quarter, up from 26.4 BU a year earlier. For the full financial year 2026, total power generation reached 105 BU, while consolidated power sales rose 3.4 percent year-on-year to 99.15 BU, reflecting consistent demand recovery.
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The quarter saw mixed demand trends, with power consumption remaining subdued initially due to colder weather and unseasonal rains. However, demand improved significantly in March as temperatures rose, boosting electricity usage. Despite softer merchant power tariffs during the quarter, the company maintained resilience in earnings, supported by efficient cost management and operational discipline.
A major highlight was the expansion of long-term power purchase agreements (PPAs), which strengthened revenue visibility. During the quarter, the company secured a 1,600 MW PPA from a Maharashtra distribution company under the DBFOO model. This brought its total contracted capacity to 13.3 GW, with nearly 95 percent of its operational capacity now tied to long-term agreements.
Commenting on the results, CEO S B Khyalia emphasised the importance of energy security amid global price volatility. He noted that thermal power continues to play a vital role in ensuring grid stability and meeting peak demand, even as India accelerates its shift toward renewable energy. The company is also advancing its expansion plans, targeting a total capacity of 23.7 GW while maintaining a focus on sustainable growth and prudent investment strategies.
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