Adani Power reported a 134 per cent year-on-year increase in consolidated net profit attributable to equity holders of the parent to ₹6,919 crore in the second quarter of FY27, as higher electricity sales, stronger tariff realisations and prior-period revenue recognition lifted its performance.
Revenue from operations rose 44 per cent to ₹19,439 crore in the quarter, compared with ₹13,457 crore a year earlier. The company attributed the increase to stronger power demand and improved selling rates, developments that reflect the continuing importance of large-scale generation capacity to India’s electricity system.
A significant part of the profit increase came from ₹2,422 crore in prior-period revenue recognised during the quarter. The amount was primarily linked to revisions in historical energy charges under certain power purchase agreements. In the corresponding quarter last year, the company had recognised ₹668 crore in prior-period revenue.
Excluding prior-period income and expenses, continuing EBITDA rose 18.5 per cent to ₹6,321 crore, while continuing revenue increased 28.5 per cent to ₹17,528 crore. The figures provide a clearer view of the company’s operating performance without the effect of the one-time revenue recognition.
Consolidated power sales volume increased 11.5 per cent year-on-year to 26.4 billion units in the September quarter, from 23.7 billion units a year earlier. Sales under power purchase agreements grew 29.7 per cent to 23.4 billion units, indicating a larger contribution from contracted supply.
Continuing tariff realisation improved 12.7 per cent to ₹6.4 per kWh. Merchant and short-term power realisation rose 33.1 per cent to ₹7.2 per kWh. However, volumes supplied through merchant and short-term channels declined 43 per cent as additional open capacity was tied up under medium-term contracts.
The results come as India prepares for further growth in electricity demand from cities, industry, transport electrification and digital infrastructure. Reliable baseload supply is particularly relevant to urban economies, where rising commercial and residential consumption places pressure on generation and transmission systems. The company’s results also highlight how contracted tariffs, market-linked sales and legacy power purchase agreement adjustments can produce materially different outcomes for generators and electricity buyers.
S B Khyalia, chief executive officer of Adani Power, said the company was focused on ensuring reliable power supply to meet India’s growing baseload requirements. He said domestic coal-based generation would remain important to meeting the country’s long-term energy needs and added that the company was targeting capacity additions amid India’s plan to add 100 GW of thermal power capacity by 2032.
Adani Power also said the amalgamation of 10 wholly owned subsidiaries became effective on September 25, 2026, after approvals from the Ahmedabad and Mumbai benches of the National Company Law Tribunal. The entities included Korba Power and Vidarbha Industries Power.
The company said the amalgamation had no impact on consolidated financial results because it involved entities within the parent company and its wholly owned subsidiaries. Tax adjustments included a reversal of current tax relating to earlier years, contributing to a net tax credit of ₹230.60 crore in the September quarter.
Adani Power shares ended 1.6 per cent lower at ₹182 on the BSE on Friday, despite the reported increase in quarterly profit.
