India's Adani Power quarterly profit doubles on strong power demand, one-off gains
- Boosted by high power demand and one-time gains, Adani Power saw its quarterly profit soar, reflecting strong market conditions
India’s Adani Power reported a more than 100% rise in quarterly profit on Friday, boosted by strong power demand due to a weak monsoon season and one-off gains.
The company, part of billionaire Gautam Adani-led Adani group, said its net profit rose to 69.20 billion rupees ($728.9 million) in the three months ended September 30 from 29.53 billion rupees a year earlier.
Profit was boosted by 24.22 billion rupees in one-time revenue, after revisions to historical energy charges under certain power purchase agreements.
The firm also benefited from a 12.11 billion rupee reversal of earlier tax expenses.
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Adani Power’s revenue from operations increased 44.5% to 194.39 billion rupees, while power sales rose by 11.5%.
Total expenses rose 27.2% during the quarter.
Jefferies analysts said power demand has risen 10% year-over-year so far in fiscal 2027.
El Nino has been partly responsible, and this could extend into 2027, said Jefferies, adding that state electricity boards are discussing locking in 2027 power as shortages could reappear with rising temperatures.
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