ADANIPOWER Adani Power Q3 FY26 results (Oct–Dec 2025) and concall
Adani Power delivered resilient Q3 FY26 results despite a weak demand environment caused by extended monsoons and cooler temperatures. Merchant prices declined significantly YoY, but the company's strategic shift to 90%+ PPA-tied capacity insulated earnings. The 600 MW Butibori plant was made fully operational and tied under a 5-year Maharashtra DISCOM PPA. The company received a major LOA for 3,200 MW in Assam and continues executing its massive 23.7 GW expansion program. Management emphasized that new PPAs generate EBITDA purely from plant availability with fuel as pass-through, providing st
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What they filed
Q3 FY26: revenue down 16.9%, net profit down 32.6% against the same quarter last year.
| Line item | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 |
|---|---|---|---|---|---|
| Revenue | 12,042 | 12,201 | 12,462 | 11,785 | 10,011 −17% |
| EBITDA | 4,873 | 4,333 | 5,224 | 4,604 | 3,582 −26% |
| Net profit | 3,035 | 2,359 | 3,119 | 2,554 | 2,047 −33% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
