Adani Energy Solutions shares decline 3% as Q2 net profit falls 21% YoY to ₹534 crore, revenue up 7%

As of 1:01 pm, the stock was trading 2.54% higher at ₹922.30 per equity share.

While the scrip touched a 52-week low of ₹588 on November 27, 2024, and a year’s high of ₹1,090.95 per equity share on November 6, 2024.

Adani Energy Solutions Q2 results

The energy company posted a 20.9% year-on-year (YoY) fall in its consolidated net profit to ₹533.97 crore, mainly due to one-time adjustment of deferred tax of ₹314 crore in the year-ago period.

In the corresponding period of the previous fiscal year, the firm had clocked a profit of ₹674.96 crore, it said in a regulatory filing dated Monday evening.

However, its revenue from operations witnessed a 6.66% YoY surge to ₹6,595.83 crore during the quarter under review, compared to ₹6,183.70 crore in the September quarter of the 2024-25 fiscal year (Q2FY25).

The company’s revenue grew due to stable operating performance across business segments and higher Service Concession Arrangement (SCA) income, it said.

At an operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation) stood at ₹2,126 crore in the September quarter of FY26, marking a 12.4% YoY jump from ₹1,891 crore for the second quarter of FY25.

The double-digit growth in EBITDA was bolstered by steady transmission and distribution revenue, growing contribution from smart meter and Engineering, Procurement, and Construction (EPC), and other income, it added.

The company's capex in the first half of FY26 has increased by 1.36x to ₹5,976 crore, as against ₹4,400 crore in H1 FY25.

What the CEO said

“We are pleased to report another strong quarter. The effective on-ground execution & focused O&M is enabling consistent progress on the project capex growth and taking us a step closer towards the completion of our locked-in projects across our business segments."

Patel added that during the first half, the company made strides to commission three new transmission lines and achieved a leading daily run-rate in terms of smart meter installation and touched the 74 lakh meter installation mark, the highest in the country by any player.

He further said that the energy company anticipates a significant increase in AESL’s capex roll-out across all its core segments and expects strong momentum in the bid activity during the rest of the year.

The firm has a total market capitalisation of ₹1.11 lakh crore, as of October 28, 2025, according to data on the NSE.