Adani Power Q2 Results: Net Profit Declines by 50% to ₹3,298 Crore

On October 28, Adani Power Ltd reported a 50% drop in net profit, reaching ₹3,298 crore for the quarter ending September 30, 2024, compared to ₹6,594 crore in the same period last year. Meanwhile, the company's revenue from operations grew by nearly 3%, rising to ₹13,339 crore in Q2FY25 from ₹12,991 crore in Q2FY24.

Adani Power Q2 Results Highlights

• Revenue: Rose by nearly 3% to ₹13,339 crore, up from ₹12,991 crore in Q2FY24.
• Net Profit: Declined by 50%, amounting to ₹3,298 crore for the quarter ending on September 30, 2024.
• EBITDA: Increased by 38% YoY to ₹11,692 crore.
• PBT: Increased 69% YoY to ₹8,020 crore.
• Stock Reaction: Closed 0.62% higher on the BSE at ₹596 per share.

Adani Power Management Commentary

S B Khyalia, CEO, Adani Power, said: “Adani Power has embarked on the next phase of its growth journey, swiftly achieving capacity expansion milestones and securing power supply agreements to ensure long-term revenue stability. The company consistently delivers robust operating and financial performance by leveraging its inherent strengths and competitive advantages. Its diverse capabilities and financial resilience provide a solid foundation for growth, enabling it to realize its vision of supporting India's economic development with reliable, sustainable, and affordable power supplies. Additionally, we are committed to rapidly turning around our recently acquired stressed power plants by utilizing our core competencies and strengths.”

"Power demand was flat during Q2FY25 as compared to the corresponding quarter of FY24".

This was primarily due to climatic conditions such as a delayed but prolonged rain spell affecting demand. Nevertheless, cumulative demand for FY25 till September 30, 2024 was robust with a growth of 5% over the first half of FY24. Growing peak demand has also improved power offtake from the thermal power sector to ensure uninterrupted power supply during the hours of low renewable energy generation," said Adani Power in a stock exchange filing.

Stock Market Reaction

 Adani Power's shares closed 0.62% higher on the BSE at ₹596 per share on October 28.

About Adani Power

Adani Power Ltd (APL) is a major electricity utility that develops and manages both thermal and solar power projects. As one of India’s largest private-sector Independent Power Producers (IPP), APL operates across several states, including Gujarat, Chhattisgarh, Maharashtra, Madhya Pradesh, Rajasthan, and Karnataka. The company’s headquarters are located in Ahmedabad, Gujarat, India.