Adani Power reports a 55 per cent drop in net profit despite revenue growth

Adani Power has reported a 55 per cent year-on-year decline in net profit, amounting to Rs 39 billion, compared to Rs 87.59 billion in the same period last year. Despite the profit drop, the company’s revenue increased by 36 per cent year-on-year, reaching Rs 147.17 billion from Rs 110.05 billion in the corresponding quarter of the previous year.

Power demand across India continues to grow strongly, with aggregate demand rising by 10.6 per cent year-on-year in the first quarter and peak demand increasing by 12 per cent to a record 250 gigawatts (GW).