The decline comes as investors booked profits after the stock surged 13% this week, pushing it to a four-month high. Power stocks, including Adani Power, have seen fresh buying interest amid rising expectations of higher electricity demand due to soaring temperatures.
Earlier this week, the Adani Group company said power will be supplied from one of its upcoming ultra-supercritical thermal power projects (USCTPP). The LoA comes after the company emerged as the lowest-tariff bidder in the competitive bidding process, offering power at a combined tariff of Rs 5.30 per kWh. The supply of power under the proposed 25-year Power Supply Agreement (PSA) is scheduled to commence in the financial year 2030-31, the firm said.
“This achievement marks yet another PSA win for APL during a period of renewed surge in investments in the thermal power sector. Adani Power has established itself as a leading provider of new generation capacity, supporting the nation’s goal of adding 100 GW of thermal power capacity by 2032. During FY25-26, APL has won five long-term PSA bids with a combined capacity of 10,400 MW,” the company said in its exchange filing.
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“These projects are aligned with India’s rapidly growing electricity demand, driven by economic expansion, urbanisation, industrial growth and increasing household electrification. During the project phase, they are expected to generate employment for tens of thousands of people and stimulate industrial demand across multiple sectors,” Adani Power said.
Adani Power Q3 snapshot
The company reported a 19% year-on-year (YoY) fall in its December quarter consolidated net profit at Rs 2,480 crore, compared to Rs 3,057 crore reported in the year-ago period. The profit after tax (PAT) is attributable to the owners of the parent.The company’s revenue from operations stood at Rs 12,451 crore in Q3FY26, down 9% YoY over Rs 13,671 crore posted in the corresponding period of the last financial year.
Commenting on the results, CEO S B Khyalia called Q3 performance “strong” on the back of robust liquidity, competitive advantages and cost-efficient power plants. “We are swiftly securing long-term power purchase agreements for our upcoming capacities, with nearly half of our 23.7 GW expansion already tied up in PPAs with state DISCOMs. Our project execution is progressing exceptionally well, meeting or exceeding our targets,” Khyalia said.
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