Adani Power reported a 50 per cent fall in profit after tax in Q2 of FY25 and revenue from operations rose a tepid 9.1 per cent, on muted demand during the quarter.
The power producer reported net profit of ₹3297.5 crore on revenue of ₹12,949 crore, power sales rose by 3.8 billion units (BU) to 21.9 billion units (BU). The company said that power demand was flat in the reporting quarter affected by a delayed but prolonged rain spell.
It added that growing peak demand improved power offtake from the thermal power sector, ensuring uninterrupted power supply during the hours of low renewable energy generation.
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“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,” said Chief Executive Officer SB Khyalia.
Merchant sales saw strong growth in the quarter and power purchase agreements signed during the quarter also saw good growth due to demand from Discoms, which was aided by lower fuel costs and full-period operations of the Godda power plant.
During the quarter, it added 2.3 GW to its generating capacity, consisting of the 500 MW acquisition of Adani Dahanu Thermal Power Station, acquisition of Lanco Amarkantak Power (600 MW) under a bankruptcy process and 1200 MW added with Coastal Energen, again acquired under IBC.