Adani Power Reports Q2 FY27 Net Profit of ₹6,919 Crore on Higher Sales and Prior-Period Revenue

Adani Power has reported a consolidated net profit attributable to equity holders of the parent of ₹6,919 crore for the second quarter of FY27, marking a 134 per cent increase compared to the same period in the previous year. The financial performance was supported by higher power sales, improved tariff realisations, and one-time revenue recognition from previous periods.

Revenue from operations rose by 44 per cent to ₹19,439 crore during the quarter, up from ₹13,457 crore a year earlier. This reflected strong electricity demand and improved selling rates. A primary driver of the profit growth was the recognition of ₹2,422 crore in prior-period revenue during the quarter, mainly driven by revisions in historical energy charges under specific power purchase agreements (PPAs). In comparison, ₹668 crore was recognised in the corresponding quarter of the previous year.

When excluding prior-period income and expenses, continuing EBITDA rose by 18.5 per cent to ₹6,321 crore, while continuing revenue increased by 28.5 per cent to ₹17,528 crore. Consolidated power sales volume grew 11.5 per cent year-on-year to 26.4 billion units (BU) in Q2 FY27, compared with 23.7 BU in the corresponding quarter last year.

Power sales under PPAs increased by 29.7 per cent to 23.4 BU. Tariff realisation on a continuing basis improved by 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, although volumes supplied through these channels declined by 43 per cent as additional open capacity was tied up under medium-term contracts.

S B Khyalia, CEO of Adani Power, stated that the company remains focused on ensuring reliable power supply to meet India’s growing baseload requirements. He noted that domestic coal-based power will continue to play a key role in meeting the country's long-term energy needs, adding that the company is targeting capacity additions in line with India’s plan to add 100 GW of thermal power capacity by 2032.

In corporate developments, the amalgamation of 10 wholly owned subsidiaries became effective on September 25, 2026, following approvals from the Ahmedabad and Mumbai benches of the National Company Law Tribunal. The scheme involved entities such as Korba Power and Vidarbha Industries Power. The company stated that the merger had no impact on consolidated financial results as it was an internal amalgamation between the parent company and its wholly owned subsidiaries. Resulting 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.

On the stock market, Adani Power’s shares ended 1.6 per cent lower at ₹182 on the BSE following the announcement.

"Adani Power's Q2 results highlight the direct impact that regulatory revisions and historical tariff realisations can have on corporate balance sheets alongside core operational growth. While prior-period revenue recognition significantly boosted reported net profit, the underlying rise in continuing revenue and power sales volumes demonstrates stable underlying demand. As the energy sector prepares for major capacity additions to meet national baseload requirements, companies must balance contract stability with market-rate realisations to sustain long-term growth in this capital-intensive industry." — Dr. Shishir Gupta, Founder & CEO, StartupLanes