Adani power FY26 Q4 profit up by 52% at Rs 4,017 crore

Adani Power Ltd officially announced here on Wednesday that it posted a 52.34% increase in profit to Rs 4,017 crore for the March quarter (FY26 Q4), as compared to Rs 2,637 crore in the year-ago period.

Profit rose sharply due to a lower tax outgo, even as revenue and operating performance remained largely subdued. Revenue from operations remained flat at Rs 14,223 crore, as compared to Rs 14,237 crore a year earlier, while EBITDA declined by 1.7% to Rs 4,732 crore. Margins also softened slightly, with the EBITDA margin at 33.27% compared to 33.80% in the year-ago quarter, according to the company statement.

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Despite muted operating performance, profit growth was supported by a sharp drop in tax expenses during the quarter.

Tax outgo fell to just ₹112.58 crore in Q4 FY26, compared to Rs 662.05 crore in Q4 FY25, marking an over 80% decline year-on-year (YoY).

According to the company statement, this led to a substantial expansion in net profit even though pre-tax earnings saw only moderate growth. In fact, profit before tax rose to Rs 4,383.98 crore from Rs 3,261.28 crore, which is a far more modest increase compared to the jump in net profit.

The lower tax charge, which included deferred tax adjustments, also played a key role in boosting the bottom line for the quarter. The company itself noted that the rise in profit was “following provision of lower tax expenses.”

Power demand during the quarter was impacted by unseasonal weather conditions, while increased renewable penetration and lower merchant tariffs weighed on realisations, even as power sale volumes inched up to 27.2 billion units from 26.4 billion units, lower pricing limited revenue growth.

The company stated that higher operating efficiency, favourable forex movement and improved plant availability helped offset some of the pricing pressure.

However, the overall impact was visible in flat revenue growth and a marginal decline in EBITDA and margins.

Commenting on the results, Adani Power Ltd CEO S B Khyalia said the company remains focused on long-term expansion and energy security.

“As the world goes through another energy price shock, the security and sovereignty of India’s energy supply assume critical importance. We are well set to achieve our capacity expansion targets and register multi-fold earnings growth over the coming years,” Khyalia said.