Adani Energy Solutions on Monday reported a 21% fall in its net profit in the second quarter of the current fiscal at Rs 534 crore, missing analyst estimates of Rs 742 crore. The Adani Group firm had reported a profit of Rs 675 crore in the corresponding quarter of the previous fiscal.
In Q2, the company had a one-time positive impact of deferred tax of Rs 314 crore. In like-for-like comparison, its Q2 adjusted PAT was up 21% year-on-year, it said.
The company missed analyst estimates on the revenue front too and posted a 7% growth in revenue at Rs 6,596 crore in Q2 compared with Rs 6,184 crore in Q2FY25. Analysts had estimated a revenue of Rs 7,187 crore.
While Ebitda went up by 28.1% at Rs 2,289 crore, beating analyst estimates by a narrow margin, Ebitda margins went up by 28.9% to 34.7% in Q2FY26.
“We are pleased to report another strong quarter. The effective on-ground execution and focused O&M is enabling consistent progress on the project capex growth and taking us a step closer towards the completion of our locked-in projects across our business segments,” said Kandarp Patel, CEO, Adani Energy Solutions.
The sector continues to offer significant growth opportunities due to focused energy transition backed by regulatory stability and reforms, Patel said, adding: “We anticipate a significant increase in AESL’s capex roll-out across all core segments and expect strong momentum in the bid activity during the rest of the year.”
The company said its capex in the first half of the fiscal went up 1.36x to Rs 5,976 crore against Rs 4,400 crore in H1FY25.
In the smart meters business, it installed 4.24 million new meters, reaching a total of 7.37 million installed meters. It said it is on track to surpass 10 million cumulative smart meters by the end of FY26.
With recent wins, the company’s aggregate transmission under construction pipeline stands at Rs 60,004 crore and a smart metering order book of 24,6 million meters with a revenue potential of Rs 29,519 crore, it said.
The near-term tendering pipeline in the transmission sector is at around Rs 96,000 crore, whereas the country-wide market opportunity in smart metering remains robust at 104 million, it added.
During the first half, the company commissioned three transmission projects – Khavda Phase II Part-A, Khavda Pooling Station – 1 (KPS-1) and Sangod transmission.
