For FY26, net profit rose modestly to Rs 12,971.08 crore. | Photo Credit: Dado Ruvic

Adani Power on Wednesday reported over 64 per cent growth in consolidated net profit to Rs 4,271.40 crore during the quarter ended March 31, mainly driven by higher revenues and lower tax expenses.

It had reported a net profit of Rs 2,599.23 crore in the year-ago quarter, the company said in an exchange filing.

The company's total income rose to Rs 15,989.09 crore in the fourth quarter from Rs 14,535.60 crore in the same period of the preceding 2024-25 financial year.

For the full FY26, the company's net profit rose to Rs 12,971.08 crore from Rs 12,749.61 crore in FY25.

In a separate statement, Adani Power said it recorded a higher profit after tax for Q4 and FY26 on the back of lower tax expenses.

Continuing operating revenues for the quarter were up by 2.93 per cent at Rs 14,559.97 crore compared to Rs 14,145.31 crore for Q4 FY25 due to high plant uptime being maintained, favourable foreign exchange movement, and greater operating capacity, despite lower merchant prices and lower prices of imported coal.

SB Khyalia, CEO of Adani Power, said, "As the world goes through another energy price shock, the security and sovereignty of India's energy supply assume critical importance. Our abundant natural resources, including coal, will power our growth and development for a long time. As India progresses quickly to achieve its renewable energy targets, thermal power is rising to the challenge of stabilising the grid and meeting peak demand".

As of March 31, 2026, the cumulative work for Mahan Phase II 1,600 MW USCTPP (ultra super critical thermal power plant) has reached 86 per cent, Raipur Phase-II 1,600 MW USCTPP 54 per cent, and Raigarh Phase-II 1,600 MW USCTPP 47 per cent.

Further, the 1,320 MW Phase-II expansion of APL’s wholly-owned subsidiary Korba Power Ltd is also set to be completed in FY 2026-27.

The company aims to add 23.7 GW thermal power capacity by 2032.

During the quarter, Adani Power has received a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for the supply of 1,600 MW power for 25 years from a new (USCTPP) to be developed on Design, Build, Finance, Own and Operate (DBFOO) model by sourcing fuel from the allocated coal linkage arranged by the utility under the SHAKTI Policy.

The company said its subsidiary Moxie Power Generation Ltd (MPGL) signed a 558 MW PPA with Tamil Nadu DISCOM for a period of five years, to be supplied from the Tuticorin (Mutiara) power plant.

With this, the operating capacity of MPGL has been tied up fully, while APL’s aggregate operating capacity has been tied up to the extent of 95 per cent under long and medium-term PPAs.

Adani Power (APL), a part of the Adani portfolio, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 18,110 MW spread across twelve power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, apart from a 40 MW solar power plant in Gujarat.

Published on April 29, 2026