Adani Power Q1 Result: Net profit dips 16% YoY; board approves stock split in 1:5 ratio

Adani Power’s board on Friday has also approved a stock split of the existing 1 equity share of the company having a face value of ₹10 each, fully paid up, into 5 equity shares having a face value of ₹2 each, fully paid up.

The Adani group firm’s total revenue from operations also dipped 5.6% year-on-year (YoY) to ₹14,109 crore in Q1 FY26 as compared to ₹14,956 crore in the corresponding quarter last year. The decline came primarily due to lower merchant tariff realisation and import coal prices year-on-year, the firm said.

On the back of lower revenue and additional operating expenses of recent acquisitions on a yearly basis, the company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) declined 8.22% to ₹5,686 crore in the period ended June 2025 as against ₹6,195 crore in Q1 FY25.

In the reporting quarter, Adani Power’s margin contracted to 40.3% from 41.4% YoY.

Its consolidated continuing EBITDA for Q1 FY26 was higher by 12.7% as compared to Q4 FY25 due to higher merchant tariffs and lower fuel costs as well as operating expenses.

Shares of the firm were trading at ₹579.20 apiece on the National Stock Exchange, slipping 1.51% following the earnings.

Commenting on the earnings, Adani Power CEO S. B. Khyalia said, “We continue to bolster our capacity through swift project execution and strategic acquisitions, ensuring we are well-prepared for future growth on our path to 30 gigawatts (GW) by 2030. By securing critical equipment like ultra-supercritical boilers, turbines, and generators ahead of schedule, we’re reinforcing our competitive edge and supporting India’s growing energy needs.”

During the quarter, the firm’s consolidated power sale volume grows by 1.6% to 24.6 BU in Q1 FY26 as against 24.2 BU in Q1 FY25, despite the high base effect and demand disruption due to early monsoons.

The company is receiving regular payments from Bangladesh, with over $500 million received over the last two months, Adani Power has said. The Godda power plant has started receiving regular payments from the Bangladesh Power Development Board after the release of $437 million in June 2025 and $75 million in July 2025, it added.

The firm’s consolidated operating capacity grew to 17,550 MW in Q1 FY26 from 15,250 MW in Q1 FY25 on account of the acquisition of the 1,200 MW Moxie Power Generation, 600 MW Korba Power Limited, and 500 MW Adani Dahanu Thermal Power Station.

Adani Power said that power demand was affected by an early monsoon in Q1 FY26, in comparison to the demand surge witnessed in Q1 FY25 due to a heat wave phenomenon. As a result, all-India energy demand came down by (-) 1.6% to 445.2 BU in Q1 FY26 as compared to 452.4 BU in Q1 FY25.

Despite the slowdown in energy demand, Adani Power was able to register a growth of 1.6% in power sales due to greater operating capacity and higher offtake in some of the plants.