Adani Energy’s Q1 profit jumps 130% on transmission, smart metering growth

Adani Energy Solutions Limited (AESL) reported strong growth across its transmission, smart metering, distribution and Energy Solutions Platform businesses during the quarter ended June 30, 2026, with consolidated total income rising 40% year-on-year to Rs 9,852 crore.

The company reported a record EBITDA of Rs 3,178 crore, up 58% from the corresponding quarter last year. Profit after tax (PAT) increased 130% to Rs 1,237 crore from Rs 539 crore a year earlier, while cash profit rose 70% to Rs 1,776 crore.

Operational revenue for the quarter stood at Rs 7,117 crore, registering a 54% year-on-year increase. AESL attributed the growth to contributions from the recently commissioned Mumbai High Voltage Direct Current (HVDC) project, expansion of its smart metering business and the scaling up of its Energy Solutions Platform.

Business performance

The Energy Solutions Platform recorded EBITDA of Rs 596 crore during its first full quarter of operations. The company said higher electricity demand during an extended summer season supported performance across the platform.

Transmission network availability remained at 99.6% during the quarter, while Adani Electricity Mumbai Limited (AEML) maintained supply reliability of 99.99%.

Distribution losses in the Mumbai distribution area stood at 5.16%, remaining within the regulatory limit of 5.31%. The company noted that the network operated during a period marked by extreme heatwave conditions.

Smart metering

AESL continued to expand its smart metering business during the quarter. The company reported cumulative installation of 13.44 million smart meters, describing it as a new execution benchmark.

During the period, AESL also announced the proposed acquisition of IntelliSmart. Upon completion, the transaction is expected to create India’s largest smart metering platform with a portfolio exceeding 47 million meters.

The company’s existing smart meter order book stood at 24.6 million meters as of June 30, 2026, with an estimated revenue potential of Rs 29,519 crore.

Project pipeline

AESL’s transmission business continues to be supported by a large under-execution project portfolio. The company reported a transmission project pipeline valued at Rs 71,779 crore spread across 13 projects.

Capital expenditure during the quarter increased significantly to Rs 3,498 crore, compared to Rs 2,224 crore in the corresponding quarter of FY26, reflecting accelerated project execution across businesses.

Commenting on the performance, Kandarp Patel, CEO of Adani Energy Solutions, said, “AESL has delivered robust start to FY27, driven by strong financial performance and continued operational excellence across our core businesses. Our Energy Solutions Platform has now gathered momentum, supported by significant renewable energy tie-ups and growing consumer stack across utilities, Commercial & Industrial and data centre segments.”