Adani Power Q2 Net Profit Falls 50% to ₹3,298 Crore, Revenue Rises 3%

29 Oct 2024 , 05:29 PM

Adani Power Ltd reported a significant 50% decline in net profit, posting ₹3,298 Crore for the quarter ending September 30, 2024, compared to ₹6,594 Crore in the same period last year.

The company’s revenue from operations rose nearly 3% to ₹13,339 Crore in Q2 FY25, up from ₹12,991 Crore in Q2 FY24.

S.B. Khyalia, CEO of Adani Power, stated that the company is focused on its growth journey, achieving capacity expansion and securing long-term power supply agreements to ensure revenue stability.

Khyalia emphasized the company’s commitment to delivering reliable, sustainable, and affordable power while efficiently managing recently acquired stressed power plants.

Power demand remained flat during Q2 FY25 compared to the same quarter in FY24, largely due to climatic conditions, including a delayed rainy season. However, cumulative demand for FY25 until September 30, 2024, showed a robust growth of 5% compared to the first half of FY24.

Adani Power noted that increasing peak demand improved power offtake from the thermal sector, ensuring consistent supply during low renewable energy generation periods. Consolidated continuing EBITDA for Q2 FY25 rose by 24.6% to ₹5,402 Crore, compared to ₹4,336 Crore in Q2 FY24, driven by higher sales volumes and reduced fuel and operating costs.