Adani Power Q1 Net Profit Falls 15.5% to ₹3,305 Crore

2 Aug 2025 , 11:23 AM

Adani Power Ltd reported a net profit of ₹3,305 crore for the June 2025 quarter, reflecting a 15.53% drop from ₹3,913 crore in the same period last year. The company attributed the decline to a combination of lower merchant power tariffs and higher operating expenses linked to recent acquisitions.

Compared to the previous quarter, however, profit rose 27.1%, supported by one-time income and a steady EBITDA on a sequential basis. Revenue from continuing operations came in at ₹14,167 crore, down from ₹15,052 crore a year earlier.

The dip was primarily due to weaker merchant tariff realization and a drop in imported coal prices. Adani Power reported an EBITDA of ₹5,744 crore for the quarter, compared to ₹6,290 crore in Q1 FY25.

Lower fuel costs helped offset the impact of reduced tariffs and increased operational expenses following asset acquisitions. During the quarter, the company’s installed capacity rose to 17,550 MW, up from 15,250 MW.

The expansion was led by the acquisition of three thermal assets:

• 1,200 MW Moxie Power Generation Ltd
• 600 MW Korba Power Ltd
• 500 MW Adani Dahanu Thermal Power Station

In July 2025, capacity further increased to 18,150 MW after acquiring 600 MW Vidarbha Industries Power Ltd. The company recorded a plant load factor (PLF) of 67% for the quarter.

The Godda power plant began receiving consistent payments from Bangladesh’s power board. The board released USD 437 million in June and an additional USD 75 million in July, easing receivables pressure.

Despite weak overall demand in the energy market, Adani Power managed a 1.6% increase in total power sales, supported by higher offtake and greater available capacity. Merchant power sales rose 7.7% to 5.7 billion units, compared to 5.3 billion units in the same quarter last year.

CEO S B Khyalia said the results reflect the company’s resilience, adding that strategic acquisitions and execution will help it meet its 30 GW target by 2030.

As of June 30, 2025, total debt stood at ₹44,372 crore. This is up from ₹38,335 crore at the end of March. Net debt also rose, from ₹31,023 crore to ₹37,437 crore. This is driven by bridge loans for capital expenditure and working capital requirements.

Adani Power currently operates 18,110 MW of thermal capacity across 12 locations in multiple states including Gujarat, Maharashtra, and Tamil Nadu. It also runs a 40 MW solar plant in Gujarat.

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