Adani Green Energy reported a 16 percent rise in consolidated net profit for the September quarter, as higher power sales and new capacity lifted earnings. The Adani Green Energy profit for Q2 FY27 came in at Rs 747 crore, compared with Rs 644 crore in the same quarter last year, according to the company’s results announced on October 21, 2026.
Revenue from power supply, the company’s main operating line, jumped 45 percent year on year to Rs 4,019 crore from Rs 2,776 crore. EBITDA from power supply rose 51 percent to Rs 3,835 crore, and the margin expanded to 92.0 percent from 90.5 percent a year earlier. Cash profit grew 45 percent to Rs 1,951 crore, tracking the same upward line as the Adani Green Energy profit.
Energy sales for the quarter reached 12,090 million units, up 33 percent year on year, as new solar, wind and hybrid projects came online and generation strengthened across the portfolio. The Adani Green Energy profit rose on the back of that volume growth.
What lifted Adani Green Energy profit this quarter
The quarter’s numbers were driven by capacity additions and better operating performance. Operational renewable capacity reached 20.8 GW by the end of September 2026, up 24 percent from a year earlier, after the company added 4,083 MW over the past year.
That extra capacity flowed straight into sales, adding directly to the Adani Green Energy profit figure. With more megawatts on the ground, energy sales rose by a third, and the high fixed-cost nature of renewable assets meant the additional revenue carried through to EBITDA at a margin of 92 percent. Management attributed the higher earnings, and the resulting Adani Green Energy profit, to increased electricity sales and capacity additions.
The company defines power-supply EBITDA as a company-specific operating measure, distinct from statutory profit after tax. Cash profit, defined as profit after tax plus depreciation, deferred tax and exceptional items, reached Rs 1,951 crore against Rs 1,348 crore in the year-ago quarter.
Half-year picture: Adani Green Energy profit and capacity
For the first half of FY27, power-supply revenue rose 36 percent year on year to Rs 8,299 crore, while power-supply EBITDA increased 41 percent to Rs 7,957 crore. The half-year EBITDA margin advanced to 92.9 percent from 91.8 percent a year earlier.
Energy sales for the April to September period grew 32 percent to 25,747 million units. Half-year cash profit grew 35 percent to Rs 4,176 crore. “As India’s largest renewable energy company, we take pride in driving the sector’s momentum,” chief executive officer Ashish Khanna said. “This is reflected in our strong execution in H1 FY27, with our operational renewable energy portfolio growing 24 percent year on year to 20.8 GW and energy sales increasing 32 percent, supporting robust operating performance across our solar, wind and hybrid assets.”
The company said the strong Adani Green Energy profit growth was driven by consistent capacity expansion, deployment of advanced renewable energy technologies, and improved operating performance across its projects.
Battery storage becomes the growth story
The quarter also marked a milestone in energy storage. Adani Green added 3,081 MWh of battery energy storage capacity in Q2, taking cumulative operational capacity to 6,632 MWh, or about 6.63 GWh. The company said its operational battery storage at Khavda is the world’s largest single-location battery storage installation.
That makes Adani Green India’s largest battery energy storage operator, accounting for more than half of the country’s operational capacity. “We also achieved a significant milestone in energy storage, expanding our operational BESS capacity at Khavda to 6.63 GWh,” Khanna said. “This makes AGEL India’s largest BESS operator, accounting for more than half of the country’s operational capacity. We remain focused on scaling up storage deployment while closely monitoring the availability of transmission infrastructure.”
The company is targeting 50 GW of renewable energy capacity by 2030, with storage playing a growing role as solar and wind generation scales up.
The debt side of the balance sheet
The Adani Green Energy profit story comes with a leveraged balance sheet. Capital expenditure rose 38 percent to Rs 17,160 crore in the first half, and net debt increased to Rs 1,02,973 crore from Rs 91,252 crore in March. Net debt to run-rate EBITDA stood at 5.6 times.
The company remains one of the most leveraged names in Indian renewable energy, and the debt load is the main counterweight to the operating numbers. For now, the Adani Green Energy profit trajectory is doing the heavy lifting: power-supply EBITDA is growing faster than debt, and margins remain among the highest in the sector.