Adani Power Q1 profit drops 15.5% to ₹3,305 cr; board approve stock split

Adani Power on Friday released its June quarter earnings report, posting a decline in both its top and bottom lines due to lower merchant tariffs and elevated operating expenses following recent acquisitions. The board of the Adani Group company also approved a stock split in the ratio of 5:1, which means for every 1 share held, the shareholder will receive 5 new shares.

Adani Power’s consolidated net profit dropped 15.5% to ₹3,305.13 crore in Q1 FY26, compared to ₹3,912.79 crore in the same period last year. Sequentially, the profit rose 27% from ₹2,599.23 crore in the March quarter of FY25.

The consolidated revenue of the power company fell 5.87% to ₹14,167.49 crore in Q1FY26 as against ₹15,051.60 crore in the year ago period. On quarter-on-quarter, the revenue slide 2.44% from ₹14,522.39 crore in Q4 FY25, the company said in the exchange filing.

“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,” said S B Khyalia, CEO, Adani Power.

“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,” he added.

The consolidated power sale volume grew 1.6% at 24.6 billion units (BU) in Q1FY26, versus 24.2 BU in Q1 FY25, despite high base effect and demand disruption due to early monsoons, the release noted. 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 minus 1.6% to 445.2 BU in Q1 FY26 as compared to 452.4 BU in Q1 FY25.

On the operational front, EBITDA declined 8.38% YoY to ₹6,149.83 crore, while it rose sequentially 20.33% from ₹5,110.83 crore in the March quarter of the last fiscal. This was attributed to moderation in fuel costs despite lower tariffs and higher operating costs on account of recent acquisitions.

As per the company, consolidated operating capacity grew from 15,250 mega watt (MW) in Q1 FY25 to 17,550 MW in Q1 FY26, on account of acquisition of the 1,200 MW Moxie Power Generation, 600 MW Korba Power, 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.”

The board of the company also approved the stock split of 1 equity share of the company having a face value of ₹10 each into 5 equity shares having a face value of ₹2 each, subject to the approval of the shareholders of the company.

“The record date for the purpose of the sub-division/split of equity shares shall be decided after taking aforesaid approval of the shareholders of the company and the same will be intimated in due course,” the release noted.

Post Q1 results, shares of Adani Power were trading 1.5% lower at ₹578.60, with a market capitalisation of ₹2.23 lakh crore.