Adani Power Q1 Results: Profit Jumps 42% to ₹4,806 Crore, Board Approves ₹15,000 Crore Fund Raise

Adani Power Ltd reported a strong set of Q1 FY27 results, driven by higher electricity sales, improved tariff realization, and increased operating capacity. The company posted a 42% year-on-year increase in consolidated net profit, while revenue and EBITDA also recorded robust double-digit growth during the June quarter.

Alongside the earnings announcement, the company's board approved a fund raise of up to ₹15,000 crore through a Qualified Institutional Placement (QIP) or other eligible securities, subject to regulatory and shareholder approvals. The company also reiterated its long-term expansion plans, targeting 45 GW of generation capacity over the next five years.

Adani Power Q1 FY27 Financial Highlights

For the quarter ended June 30, 2026, Adani Power reported consolidated net profit of ₹4,806 crore, compared with the corresponding quarter last year.

Revenue from operations rose 34% to ₹18,902 crore, while EBITDA increased 39.8% to ₹7,948 crore. The company's EBITDA margin expanded significantly to 42%, reflecting improved operating efficiency and better realizations.

Q1 FY27 Financial Performance

Metric	Q1 FY27	Q1 FY26	YoY Change
Revenue from Operations	₹18,902 crore	₹14,108 crore*	+34%
Net Profit	₹4,806 crore	₹3,384 crore*	+42%
EBITDA	₹7,948 crore	₹5,685 crore*	+39.8%
EBITDA Margin	42.0%	40.3%	+170 bps

*Approximate prior-year values based on reported growth.

Fuel Costs Increase During the Quarter

While earnings remained strong, fuel expenses also increased due to higher imported coal prices and larger generation volumes.

Fuel costs rose 30.2% year-on-year to ₹9,512.7 crore, compared with ₹7,309.2 crore in Q1 FY26.

Cost Highlights

Particular	Q1 FY27	Q1 FY26	YoY Change
Fuel Cost	₹9,512.7 crore	₹7,309.2 crore	+30.2%

Board Approves ₹15,000 Crore Fund Raise

The Board of Directors approved raising up to ₹15,000 crore through:

• Qualified Institutional Placement (QIP)
• Equity shares
• Convertible securities
• Other eligible instruments

The proposal is subject to shareholder and regulatory approvals and is expected to strengthen the company's financial flexibility for future expansion.

Fund Raise Details

Particular	Details
Fund Raise Size	Up to ₹15,000 crore
Mode	QIP and other eligible securities
Purpose	Growth, expansion and corporate requirements
Status	Subject to approvals

Debt Position

Adani Power's debt increased during the quarter as the company continued investing in capacity expansion.

Debt Snapshot

Particular	June 30, 2026	March 31, 2026
Total Debt	₹58,381.3 crore	₹53,555.5 crore
Net Debt	₹47,642.8 crore	—

Operational Performance

The company continued expanding its generation capacity and recorded healthy electricity sales during the quarter.

Installed capacity increased to 18,330 MW, while electricity sales reached 28.8 billion units during Q1 FY27.

The company also reported:

• 30.3% growth in power sales under long-term Power Purchase Agreements (PPAs).
• Average tariff realization improved to ₹5.95 per kWh, up 8.5% year-on-year.
• Merchant and short-term tariff realization increased 13.1% to ₹7.04 per kWh.

Operational Highlights

Metric	Q1 FY27
Installed Capacity	18,330 MW
Electricity Sold	28.8 Billion Units
PPA Power Sales Growth	30.3%
Average Tariff Realisation	₹5.95/kWh
Merchant Tariff Realisation	₹7.04/kWh

Growth Strategy

Adani Power plans to increase its installed generation capacity to 45 GW over the next five years.

The company is also expanding through:

• Acquisition of Jaiprakash Associates' power assets.
• Diversification into hydro power projects.
• Entry into international hydro opportunities.
• Exploring opportunities in the nuclear power sector.

According to management, higher electricity demand, additional operating capacity, and long-term PPAs for plants such as Butibori and Mutiara (Tuticorin) supported the strong growth in power sales during the quarter.

Adani Power Share Price

Despite the strong earnings announcement, Adani Power shares traded marginally lower during afternoon trade.

Stock Performance

Metric	Performance
Share Price	₹218.19
Intraday Change	-0.99%

Key Positives

• Net profit increased 42% year-on-year.
• Revenue grew 34%.
• EBITDA margin expanded to 42%.
• Power sales and tariff realization improved.
• Board approved ₹15,000 crore fund raise.
• Long-term capacity expansion plans remain intact.

Key Risks

• Fuel costs increased over 30%.
• Total debt rose during the quarter.
• Expansion plans require significant capital investment.
• Share price reacted negatively despite strong results.

What was Adani Power's Q1 FY27 net profit?

Adani Power reported a 42% YoY increase in consolidated net profit to ₹4,806 crore.

How much did Adani Power's revenue grow?

Revenue from operations increased 34% year-on-year to ₹18,902 crore.

Why did Adani Power approve a ₹15,000 crore fund raise?

The company plans to raise capital through a QIP and other eligible securities to support future expansion and corporate requirements.

How much electricity did Adani Power sell in Q1 FY27?

The company sold 28.8 billion units of electricity during the June quarter.

What is Adani Power's capacity expansion target?

Adani Power aims to increase its generation capacity to 45 GW over the next five years.