reported a modest rise in quarterly profit on the back of higher revenues and steady operational performance, even as the base was impacted by one-off gains last year.
The Adani Group’s transmission and distribution arm posted a 6 per cent year-on-year increase in consolidated net profit at ₹684 crore for the March quarter, while revenue from operations rose 17 per cent to ₹7,443 crore, reflecting improved execution across its core businesses.
Adjusted for a one-time deferred tax gain of ₹148 crore in the year-ago quarter, profit for Q4FY26 stood at ₹723 crore, marking a sharper 28 per cent year-on-year growth, aided by stronger operating profitability.
For the full year, the company’s performance was more robust. Total income rose 15.9 per cent to ₹28,325 crore, while EBITDA grew 12.7 per cent to ₹8,726 crore, driven by expansion in transmission assets and continued traction in the smart metering segment. Reported net profit for FY26 jumped 160 per cent to ₹2,393 crore, although this included one-off adjustments; on a like-for-like basis, adjusted profit rose 32 per cent. Chief Executive Kandarp Patel attributed the performance to “consistent operational execution and disciplined capital management,” adding that the company continues to see strong growth visibility across its businesses.
A key driver during the quarter was the commissioning of the Mumbai high-voltage direct current (HVDC) project, which strengthens the company’s footprint in the country’s financial capital. With this, Adani Energy Solutions has become the only private sector player in India to execute two HVDC projects, underscoring its capabilities in complex transmission infrastructure.
The company commissioned a total of five transmission projects during the year, including North Karanpura Transmission, Khavda Phase II Part-A, Khavda Pooling Station-1 and the Sangod transmission line, as it continued to scale up its asset base. Its smart metering business also crossed a significant milestone, with installations surpassing one crore units, positioning the company as a key player in India’s push towards digitised power distribution.
Capital expenditure for FY26 rose to ₹14,232 crore from ₹11,444 crore a year earlier, signalling continued investment in network expansion and project execution. Looking ahead, the company said growth prospects remain strong, supported by an expanding pipeline of transmission projects, increasing demand for smart metering solutions, and sustained momentum in infrastructure deployment.