Adani Power Q1 net profit up 42% to Rs 4,806 crore; board approves Rs 15,000 crore fundraising
Quick Look
- Adani Power reported a 42% year-on-year increase in consolidated net profit to Rs 4,806 crore in Q1, with revenue growing 34% to Rs 18,902 crore.
- The company's board also approved a fundraising of Rs 15,000 crore, driven by rising power demand and higher capacity utilization.
AI-generated summary
Why It Matters
Adani Power reported its highest ever quarterly performance on operating and financial parameters, driven by increased power demand and capacity utilization.
Adani Power on Wednesday reported 42% year-on-year (YoY) growth in its consolidated net profit at Rs 4,806 crore in the first quarter. The same stood at Rs 3,385 crore in the same quarter last year.
The company's board has approved a fundraising of Rs 15,000 crore through the issue of equity shares via QIP or other means.
Revenue from operations in the reporting period grew 34% YoY to Rs 18,902 crore.
The company said that this was its highest ever quarterly performance on operating and financial parameters, helped by rising power demand and higher capacity utilisation. Adani Power's consolidated power sale volume rose 17% to 28.8 billion units in Q1 from 24.6 billion units in the year-ago quarter. Power generation stood at 31 billion units, also its highest ever quarterly generation.
Adani Power's installed capacity stood at 18,330 MW during the quarter, compared with 17,550 MW a year earlier. Plant load factor improved to 77.9% from 67% in the year-ago quarter.
Adani Power's reported EBITDA rose 36% YoY to Rs 8,369 crore from Rs 6,150 crore. Continuing EBITDA increased 22% to Rs 6,983 crore from Rs 5,744 crore.
The company also recognised Rs 1,386 crore of net prior-period income during the quarter, mainly due to revision in historic energy charges under certain power purchase agreements. This compares with Rs 406.21 crore in the same quarter last year.
Fuel cost rose 30% to Rs 9,513 crore from Rs 7,309 crore, mainly due to higher volumes and higher landed prices of imported coal. Finance cost increased 5% to Rs 901 crore from Rs 857 crore, which the company said reflected tight control despite acquisitions and ongoing capital expenditure.
Power sales under power purchase agreements rose 30% to 24.5 billion units during Q1FY27. Tariff realisation under PPAs improved 8% to Rs 5.95 per kWh.
Merchant and short-term realisation rose 13% to Rs 7.04 per kWh, helped by stronger demand. The company said demand growth, higher operating capacity and PPA tie-ups of previously open capacity at Butibori and Mutiara plants supported volume growth.
What to Watch
AI outlook — possibilities, not facts
Adani Power will proceed with fundraising of Rs 15,000 crore via QIP or other means.
Very likely · Within months
Open Questions
- What are the specific terms of the QIP fundraising?
- When will the fundraising be completed?
- How will the funds be utilized?
