Adani Power’s profit rises 141%
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Adani Power Limited (APL), India’s largest private sector thermal power producer, recorded a 141.5% increase in profit in the second quarter of the current fiscal year, covering July to September 2026.
In monetary terms, the profit amounted to Tk 91.25 billion (Rs 71.93 billion). It was Tk 37.78 billion (Rs 29.06 billion) in the same period of the previous fiscal year.
Adani supplies an average of 1,300 to 1,400 megawatts of electricity to Bangladesh from its thermal power plant in Jharkhand, India. Many have described the agreement signed with the Indian company during the ousted Awami League government’s tenure as unequal. The company has also previously suspended or reduced power supplies when electricity bills were not paid on time.
According to Adani’s published financial results, revenue from ongoing operations rose 29.8% to Tk 221.18 billion (Rs 170.14 billion) in the second quarter. The figure was Tk 170.38 billion (Rs 131.06 billion) in the same period of the previous fiscal year.
During the quarter, EBITDA (earnings before interest, taxes, depreciation and amortization) from ongoing operations increased 18.5% to Tk 82.17 billion (Rs 63.21 billion). Meanwhile, total reported revenue, including one-time prior period income, rose 39.4% to Tk 259.36 billion (Rs 199.51 billion).
Adani said increased electricity demand, higher sales under power purchase agreements (PPAs) and improved tariffs and better prices in the commercial market contributed to the profit growth. However, higher costs for imported coal also increased fuel expenses. These expenses rose 41.8% to Tk 132.97 billion (Rs 102.29 billion) in the second quarter. Meanwhile, finance costs fell 9.7% to Tk 9.88 billion (Rs 7.60 billion).
In the first six months of the current fiscal year, from April to September, the company’s profit after tax increased 91.4% to Tk 154.51 billion (Rs 118.86 billion). Revenue from ongoing operations rose 28.9% during the period.
As part of its plan to expand power generation capacity, APL is adding 23,720 megawatts of new thermal power capacity. According to company information, the 660-megawatt unit at the second phase of the Korba project has been connected to the grid and is expected to begin operations soon. The company also aims to bring the second phase of its project in Madhya Pradesh fully online in the early part of fiscal year 2027 to 2028.
Adani has also taken steps to expand its business. APL has been selected as the successful resolution applicant to acquire GVK Energy, which operates the 330-megawatt Alaknanda hydropower plant in Uttarakhand. In addition, the company has signed a 25-year agreement to supply 1,320 megawatts of thermal power in Uttarakhand. It is also developing a partnership in Bhutan’s 770 megawatt Chamkarchhu hydropower project.
Meanwhile, CARE Ratings and India Ratings upgraded the company’s credit rating from AA Stable to AA Plus Stable. As of September 30, 2026, the company’s total debt stood at Tk 804.18 billion (Rs 618.60 billion), while its net debt was Tk 595.99 billion (Rs 458.46 billion).
Adani Power Chief Executive Officer S B Khyalya said the company’s priorities are to ensure reliable power supplies to meet India’s growing electricity demand and contribute to the country’s national target of adding 100 gigawatts of new thermal power capacity by 2032.
