Adani Power Profit Dips 50% Amid Earnings Plunge and Tax Surge

Adani Power reported a 50% decline in net profit for the September quarter, attributed to decreased income and increased tax expenses. Net profit fell to Rs 3,297.52 crore from Rs 6,594.17 crore. The company cited lower one-time revenue and deferred tax adjustments as factors affecting its performance.


Devdiscourse News Desk | New Delhi | Updated: 28-10-2024 16:43 IST | Created: 28-10-2024 16:16 IST
Adani Power Profit Dips 50% Amid Earnings Plunge and Tax Surge
Representative image (Photo/adanienterprises.com) Image Credit: ANI
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Adani Power announced a steep 50% decline in its consolidated net profit, amounting to Rs 3,297.52 crore for the September quarter, versus Rs 6,594.17 crore a year earlier. This downturn was primarily due to reduced income and increased tax liabilities.

The company attributed part of the profit drop to lower one-time revenue from prior period items, amounting to Rs 1,020 crore in H1 FY25, compared to Rs 9,278 crore in H1 FY24. The reduced revenue followed the settlement of major regulatory matters and the recovery of outstanding dues from power distribution companies in the previous fiscal year.

CEO S B Khyalia emphasized Adani Power's ongoing capacity expansion and securing long-term power supply agreements, signaling a strategic focus on revenue stability. To support these initiatives, the board approved raising up to Rs 5,000 crore through secured debentures.

(With inputs from agencies.)

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