Adani Power reported a 134% year-on-year increase in consolidated net profit to Rs 6,919 crore for the second quarter of FY27, as stronger electricity demand lifted the company’s sales and India’s coal-based power generation during the period.
The thermal power producer’s profit rose from Rs 2,953 crore in the corresponding quarter last year, while revenue from operations increased 45% to Rs 19,439 crore from Rs 13,457 crore, according to the company’s regulatory filing reported by Economic Times. Earnings before interest, tax, depreciation and amortisation rose 60% to Rs 8,231 crore from Rs 5,150 crore.
Adani Power’s operating margin stood at 42.3% in Q2 FY27, compared with 38% in the year-ago quarter. Consolidated power sales volume increased 11.5% to 26.4 billion units from 23.7 billion units, which the company attributed to stronger power demand.
The results come as India’s electricity system recorded higher demand and generation during the quarter. National power demand rose 11.5% year-on-year to 502 billion units, while power generation increased 11% to 536 billion units, according to the company’s reported figures. The company said lower hydropower generation potential, along with rising demand, increased the share of coal- and lignite-based power in total supply to 66% from 65% in Q2 FY26.
Coal- and lignite-fired plants accounted for 73% of the incremental power generated during the quarter. The aggregate plant load factor of India’s coal-based power plants also rose to 68%, compared with 62% in the year-ago period. Plant load factor measures the extent to which available generating capacity is being used and is a key indicator of pressure on the power system and utilisation of thermal assets.
S B Khyalia, chief executive officer of Adani Power, said the company was continuing to improve profitability and advance project execution. He said the company was focused on supplying reliable power to meet India’s growing baseload requirements. Khyalia also cited geopolitical developments and climate-related uncertainties in the company’s assessment of the role of domestic coal-based power in meeting long-term electricity needs.
Adani Power said it was advancing a capacity expansion programme to add 23,720 MW of new thermal power capacity. The 1,320 MW Korba Phase-II supercritical thermal power project and the 1,600 MW Mahan Phase-II ultra-supercritical project are in advanced stages of execution.
The first 660 MW unit at Korba Phase-II has been synchronised with the grid and is expected to be commissioned shortly. The second unit is scheduled for commissioning in the fourth quarter of FY27, while the Mahan Phase-II project is expected to be fully commissioned in the early part of FY28.
The 1,600 MW Raipur Phase-II and 1,600 MW Raigarh Phase-II ultra-supercritical projects have each achieved more than 65% progress in less than 30 months since work began. Both projects are scheduled for commissioning in FY29, according to the company.
The quarterly figures underline the immediate importance of thermal generation in India’s electricity supply, particularly when demand rises and hydropower availability weakens. The next reported milestones for Adani Power will be the commissioning of the first Korba Phase-II unit and further progress on the Mahan, Raipur and Raigarh projects.
