- Operating Capacity grows to 18,150 MW in July 2025
- Power generation of 25.7 BU in Q1 FY26
- Profit After Tax for Q1 FY26 at Rs. 3,305 Crore
- Continuing EBITDA for Q1 FY26 at Rs. 5,744 Crore
NE NE BUSINESS BUREAU
AHMEDABAD, AUG 4
Adani Power Ltd. [APL], a part of Adani portfolio of companies, on Friday reported an impressive 27.1 per cent sequential surge in the April-June quarter (Q1 FY26) at Rs 3,305 crore — from Rs 2,599.23 crore posted in the last quarter (Q4 FY25).
Consolidated power sale volume grew by 1.6 per cent at 24.6 billion units (BU) in Q1 FY26, compared to 24.2 BU in Q1 FY25, despite a high base effect and demand disruption due to early monsoon.
The Adani Group company reported consolidated continuing total revenue for Q1 at Rs 14,167 crore compared to Rs 15,052 crore in Q1 FY25, primarily due to lower merchant tariff realisation and import coal prices year-on-year.
Consolidated continuing total revenue for Q1 FY26 stood at a similar level to Q4 FY25, despite lower volumes, due to improved merchant realisation on a sequential basis.
The consolidated operating capacity grew from 15,250 MW in Q1 FY25 to 17,550 MW in Q1 FY26 on account of the acquisition of the 1,200 MW Moxie Power Generation Ltd, 600 MW Korba Power Limited and 500 MW Adani Dahanu Thermal Power Station. It has further grown to 18,150 MW in July 2025 upon completion of the acquisition of the 600 MW Vidarbha Industries Power Ltd.
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.
Commenting on the results, S B Khyalia, CEO, Adani Power Limited, said, “Adani Power’s stable financial performance this quarter is a testament to its resilience and core strengths, even in the face of variability in power demand and unpredictable weather. 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 Giga Watts (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. Our commitment to sustainability and operational excellence remains unwavering, as we strive to deliver reliable, affordable power that drives the nation’s progress.”
Operating performance
| Parameter | Q1 FY26 | Q4 FY25 | Q1 FY25 | FY25 |
| Installed Capacity (MW) | 17,550 | 17,550 | 15,250 | 17,550 |
| Plant Load Factor (PLF) | 67.0% | 74.2% | 78.0% | 70.5% |
| Units Sold (BU) | 24.6 | 26.3 | 24.2 | 95.9 |
MW: Mega Watts; BU: Billion Units
Financial performance
| Particulars
(Rs. in Crore) |
Q1 FY26 | Q1 FY25 | Change +/- | Q4 FY25 | Change +/- | FY25 |
| Continuing Revenue from Operations(1) | 13,702.94 | 14,716.89 | (6.89%) | 14,145.31 | (3.13%) | 54,502.81 |
| Continuing Other Income(2) | 464.55 | 334.71 | 38.79% | 377.08 | 23.20% | 1,969.91 |
| Total Continuing Revenue | 14,167.49 | 15,051.60 | (5.87%) | 14,522.39 | (2.44%) | 56,472.72 |
| Total Reported Revenue | 14,573.70 | 15,473.95 | (5.82%) | 14,535.60 | 0.26% | 58,905.83 |
| Continuing EBITDA | 5,743.62 | 6,290.28 | (8.69%) | 5,097.62 | 12.67% | 21,575.07 |
| Reported EBITDA | 6,149.83 | 6,712.63 | (8.38%) | 5,110.83 | 20.33% | 24,008.18 |
| Continuing Profit Before Tax | 3,798.10 | 4,483.16 | (15.28%) | 3,248.07 | 16.93% | 13,926.40 |
| Reported Profit Before Tax | 4,204.31 | 4,905.51 | (14.29%) | 3,261.28 | 28.92% | 16,359.51 |
| Tax expenses / (Credit) | 899.18 | 992.72 | (9.42%) | 662.05 | 35.82% | 3,609.90 |
| Profit After Tax | 3,305.13 | 3,912.79 | (15.53%) | 2,599.23 | 27.16% | 12,749.61 |
(1), (2): Continuing Operating Revenues and Continuing Other Income exclude prior period income recognition on account of coal shortfall claims and late payment surcharge.
EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization
