Adani Energy Solutions Q3: Profit slips; revenue up 15%, smart meters near 1 crore by FY26-end

Adani Energy Solutions declared its third quarter (October-December) financial performance on Thursday, January 22, with net profit edging lower despite stronger revenue and operating performance aided by project execution and growth in its smart metering business.

Adani Energy’s net profit fell 1.7% year-on-year to ₹552.2 crore in Q3, compared with ₹561.8 crore a year earlier. Revenue from operations rose 15.2% YoY to ₹6,729.7 crore, up from ₹5,830.3 crore in the corresponding quarter last year.

EBITDA increased 10% YoY to ₹2,336 crore, supported by steady execution across core segments, while EBITDA margin stood at 34.7%, lower than 36.5% reported in the year-ago period.

In the smart meters segment, Adani Energy Solutions said it is on track to surpass 1 crore cumulative installations by the end of FY26, adding that the current pace of rollouts positions the company to exceed its earlier guidance for the financial year.

During the quarter, the company also recognised a one-time financial impact of ₹92.95 crore following the consolidation of 29 labour legislations into four Labour Codes by the Government of India, which came into effect on November 21, 2025. The supporting rules under these codes are yet to be notified, and the impact has been assessed based on the best available estimates.

Commenting on the performance, Kandarp Patel, CEO of Adani Energy Solutions, said the company delivered another strong quarter despite challenges, driven by on-ground execution, focused operations and maintenance, and disciplined capital management. He added that four transmission projects were commissioned during the current financial year and that the company has installed around 92.5 lakh smart meters, the highest by any player in the country, at a benchmark daily installation rate.

Patel further said the growth outlook across business segments remains robust, with a substantial increase expected in asset capitalisation and strong momentum in bidding activity over the short to medium term.

Shares of Adani Energy Solutions ended higher on Thursday, January 22, by  3.02% at ₹926.50 on the NSE.

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