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Q3 Results: Adani Green Swings to Loss, Nine-Month Profit Hit By One-Off Charges Photograph: (Archive)
Indian renewable energy developer Adani Green Energy on Friday announced its financial results for the third quarter (Q3) and the nine months ended FY2025–26, reporting a sharp decline in net profit due to exceptional items.
According to disclosures made to the stock exchanges, the company reported a net profit of just ₹5 crore for Q3 FY26, a steep fall from ₹644 crore recorded in the preceding quarter (Q2 FY26). The performance also marked a significant drop compared to the ₹474 crore profit posted in the corresponding quarter of the previous financial year.
On the revenue front, Adani Green reported revenue from operations of ₹2,420 crore during the quarter, down 12.8% sequentially from Q2 FY26. However, on a year-on-year (YoY) basis, revenue rose 21.4% from ₹1,993 crore reported in Q3 FY25.
Nine-Month Performance: Revenue Up, Profit Down
For the nine months ended FY26, the company posted strong growth in revenue, with collections rising to ₹8,508 crore, compared with ₹6,829 crore in the same period last year, reflecting an increase of 24.5%.
However, profitability declined over the period. The company reported a net profit (PAT) of ₹1,473 crore for the nine-month period, compared with ₹1,618 crore a year earlier, marking a drop of about 9%.
Reasons for Decline in Profitability
The company attributed the decline in profit primarily to one-off exceptional items, including balance sheet restructuring, project exits, and legacy disputes. A substantial portion of the impact stemmed from accelerated refinancing and prepayment of borrowings by its subsidiaries, leading to the write-off of unamortised borrowing costs exceeding ₹100 crore across different periods.
Additionally, the group incurred significant legal and professional expenses related to a proposed foreign bond issuance that was later abandoned. This resulted in a one-time write-off of approximately ₹78 crore. These non-recurring costs were classified as exceptional items, weighing heavily on reported profits for the period.