AESL delivers strong Q3, 9MFY26 performance across the board

Ahmedabad (Gujarat) [India], January 22 : Adani Energy Solutions Limited (AESL)'s total income registered a robust growth of 15.7 per cent year-on-year to an all-time high of Rs 6,945 crore in the October-December 2025 quarter, backed by better operating performance and SCA (Service Concession Arrangement) income due to higher capex.
Adani Energy Solutions Limited, part of the globally diversified Adani portfolio and the largest private transmission, distribution, and smart metering company in India, today announced its financial and operational performance for the quarter and nine month ended December 31, 2025.
The Adani Group company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) during the quarter also reached a record high of Rs 2,210 crore, up 20.7 per cent year-on-year, driven by robust growth in the transmission and smart metering segment and steady performance in the distribution segment.
The company's profit before tax (PBT) rose 43.2 per cent year-on-year to Rs 801 crore.
The profit after tax (PAT) stood at Rs 574 crore, down 8.2 per cent year-on-year. This was on account of a positive impact of deferred tax of Rs 185 crore last year in Q3-2024-25 which has to be adjusted for a like-for-like comparison, the company said in a release.
Its adjusted PAT was up 30.4 per cent year-on-year to Rs 574 crore, translating from double-digit EBITDA expansion.
So far in 2025-26 (April-December), AESL's total income has risen 16.2 per cent year-on-year to Rs 20,737 crore, an all-time high.
The EBITDA is up 15.9% per cent year-on-year to Rs 6,354 crore, again an all-time high.
Profit Before Tax during the three quarters combined stood at Rs 2,205 crore, up 37.3 per cent year-on-year.
Profit After Tax (PAT) at Rs 1,670 crore is down 2.5 per cent due to past period one-time positive impact of deferred tax of Rs 469 crore in 9M-2024-25.
AESL's adjusted PAT grew by 34.4 per cent year-on-year to Rs 1,670 crore.
The company's capex in 9M-2025-26 has increased by 1.24x to Rs 9,294 crore, as against Rs 7,475 crore in 9M-2024-25.
During the nine months period, the company commissioned four transmission projects - North Karanpura Transmission (NKTL), Khavda Phase II Part-A, Khavda Pooling Station - 1 (KPS-1) and Sangod transmission.
In the smart meters business, they installed 61.2 lakh new meters as of 9M-2025-26, thereby reaching a total mark of 92.5 lakh installed meters cumulatively. They said they are on track to surpass one crore cumulative smart meters by the end of 2025-26.
"We are delighted to have delivered yet another strong quarter. Despite the challenges, our core strengths of strong on-ground execution, focused O&M and capital management have helped to drive consistent progress on the project development side. We have commissioned four transmission projects during the current financial year," said Kandarp Patel, CEO, Adani Energy Solutions
"The company reached an impressive mark of approximately 92.5 lakh meters --the highest in the country by any player at a benchmark daily installation rate. Looking ahead, we believe the growth outlook across our business areas remains robust. We expect a substantial increase in our asset capitalisation program across all core segments and expect strong momentum in bidding activity in the short to medium term," he added.
AESL has a presence across 16 states of India and a cumulative transmission network of 27,901 ckm and 1,18,175 MVA transformation capacity. In its distribution business, AESL serves more than 13 million consumers in metropolitan Mumbai and the industrial hub of Mundra SEZ. AESL is ramping up its smart metering business and is on course to become India's leading smart metering integrator with an order book of over 24.6 million meters.