Adani Power Q4 profit dips 5% to ₹2,599 cr on slower demand growth

Adani Power’s Q4 profit dropped 5% to ₹2,599.23 crore compared to ₹2,737.24 crore in the same period last year, while its revenue rose 5.33% to ₹14,535.60 crore against ₹13,787.26 crore in the year-ago period, primarily due to higher volume, offset by lower tariff realisation. The company's net profit in the fourth quarter was impacted by higher depreciation due to new acquisitions, apart from slower demand growth and lower merchant tariffs.

The continuing EBITDA for the quarter also dropped 3.33% YoY to ₹5,097.62 crore from ₹5,273.31 crore, due to additional operating expenses from recent acquisitions, along with slower demand growth and lower merchant tariffs, Adani Power says in an exchange filing.

Its consolidated power sale volume stood at 26.4 BU in Q4 FY25, up by 18.9% from 22.2 BU in Q4 FY24, due to growing power demand and higher operating capacity.

For FY25, the company’s consolidated net profit dropped 38.79% to ₹12,749.61 crore from ₹20,828.79 crore in the year-ago period, though the company saw power generation growing 19.5% to 102.2 billion units (BU) in FY25 from 85.5 BU in FY24. FY25 revenues rose 10.8% to ₹56,473 crore in FY25 vs ₹50,960 crore in FY24, supported by higher sales volumes, partially offset by lower tariff realisation. Consolidated continuing EBITDA for FY25 also rose 14.8% to ₹21,575 crore vs ₹18,789 crore in FY24, primarily due to higher revenue and lower fuel prices.

S B Khyalia, CEO, Adani Power Limited, says the company is prioritising capital and cost efficiencies to sharpen its competitive edge and extend its sectoral leadership across key parameters. "We are employing our deep, cross-domain expertise to make the business future-ready to continue delivering superior returns over the long term. Our unrelenting commitment to sustainability, which has seen us rank among the best thermal power producers in the world on several counts, will continue to guide us on our growth journey.”

The company's all-India power demand grew by 3.5% to 415 BU in Q4 FY25 compared to Q4 FY24. The full-year power demand grew by 4.2% to 1,695 BU compared to FY24. The marginal slowdown in demand growth was primarily due to cold weather. However, demand picked up in March 2025, which grew 6.6% over March 2024.

The company's net total debt increased to ₹31,023 crore as of March 31, 2025, compared to ₹26,545 crore, on account of acquisition debt for KPL and higher working capital borrowings in line with the increased scale of operations. The company's stock closed 3.04% down at ₹531.95 on the BSE today.