Adani Energy Solutions announced its June quarter results today, July 24, reporting a net profit of ₹538 crore, compared to a net loss of ₹1,190.66 crore in the same quarter last year. Sequentially, the net profit was down 30% from ₹713.66 crore posted in the March quarter.
There was no exceptional loss during the quarter, compared to ₹1,506 crore in Q1FY25. Consolidated revenue from operations stood at ₹6,819.28 crore, marking a 27% year-on-year increase from ₹5,378.55 crore in the year-ago period.
On the operating front, the company reported an EBITDA of ₹2,017 crore, up 14%.47 YoY from ₹1,762 crore, driven by T&D revenue, growing contribution from smart meter and EPC & other income. However, EBITDA margins contracted to 29.6%, compared to 32% in the same quarter of the previous fiscal.
Its operational EBITDA of ₹1,615 crore ended flat YoY due to lower operational EBITDA in Mumbai distribution business due to higher depreciation on account of Dahanu carve-out and lower capitalization as against capex of ₹341 crore, offsetting the EBITDA contribution from smart meter business.
“The transmission business EBITDA was flat and continues to maintain the industry’s leading operating EBITDA margin of 92%,” the company said.
Other updates
During the quarter, the company announced that it had secured a new transmission project—the WRNES Talegaon line. With this addition, its under-construction order book now stands at ₹59,304 crore.
It also fully commissioned three transmission projects in Q1 FY26: Khavda Phase II Part-A, Khavda Pooling Station-1 (KPS-1), and the Sangod transmission line.
The company also reported the installation of 24 lakh new smart meters, taking the total to 55.4 lakh meters, with a daily installation run rate of 25,000 to 27,000 meters.
Furthermore, it aims to install 70 lakh additional meters in the current fiscal year, targeting a cumulative total of 1 crore meters by the end of FY26. The near-term tendering pipeline in the transmission sector remains strong, at approximately ₹90,000 crore, according to the company’s earnings filing.
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