Adani Energy Solutions Limited (AESL) on Thursday announced its financial results for the quarter ended December 31, 2025, reporting a solid double-digit expansion in revenue and operational earnings, though consolidated net profit saw a marginal decline.

Revenue and EBITDA momentum

The Adani Group company reported a consolidated revenue from operations of ₹6,729.65 crore for Q3 FY26, an increase of 15.4% compared to ₹5,830.26 crore in the year-ago period. The company’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter rose by 6.8% to reach ₹2,335.74 crore, up from ₹2,187.85 crore in Q3 FY25.

Consolidated profit performance

In terms of the bottom line, the consolidated net profit attributable to the owners of the company stood at ₹552.31 crore for the quarter ended December 2025. This represents a slight 1.69% year-on-year dip from the ₹561.78 crore reported in the same quarter last year.

The company noted that while operational growth was strong, the reported PAT was impacted by a high base in the previous year, which included a one-time deferred tax benefit of ₹185 crore.

Operational milestones and smart metering

A primary driver for the quarter's revenue growth was the rapid scaling of the smart metering business. AESL has now installed 92.5 lakh smart meters cumulatively, with 61.2 lakh new installations occurring in the first nine months of the current fiscal year. The company is currently on track to exceed its target of 1 crore cumulative installations by the end of March 2026.

In the transmission segment, the company commissioned four major projects during the nine-month period, including the North Karanpura (NKTL) and KPS-1 transmission lines. Its aggregate under-construction pipeline in the transmission sector currently stands at ₹77,787 crore.

“We are delighted to have delivered yet another strong quarter. Despite the challenges, our core strengths of strong on-ground execution, focused O&M and capital management have helped to drive consistent progress on the project development side. We have commissioned four transmission projects during the current financial year. The company reached an impressive mark of approximately 92.5 lakh meters —the highest in the country by any player at a benchmark daily installation rate. Looking ahead, we believe the growth outlook across our business areas remains robust. We expect a substantial increase in our asset capitalisation program across all core segments and expect strong momentum in bidding activity in the short to medium term,” said Kandarp Patel, CEO, Adani Energy Solutions.

In the investor presentation, the company also highlighted a solid near-term tendering pipeline of approximately ₹1 lakh crore in the transmission sector. Furthermore, Moody’s Ratings recently revised the outlook for key subsidiaries to 'Stable' from 'Negative'.

The shares of Adani Energy Solutions ended 3.02% higher at ₹926.50 apiece on the national stock exchange on Thursday.