Adani Green Energy Q3 earnings: Revenue rises 12%, net profit tanks

By Admin

24 Jan, 2026

Introduction

Adani Green Energy Limited announced its Q3 earnings during market hours on Friday, drawing significant attention from investors and the broader market. While the company reported healthy growth in revenue and operating performance, profitability saw a sharp decline, which weighed heavily on the stock price.

Q3 financial performance
In the third quarter of the current fiscal, Adani Green Energy reported a steep 99% fall in net profit, which dropped to Rs 5 crore compared to Rs 474 crore in the December 2024 quarter. Despite the sharp decline in profit, the company delivered strong top-line growth.

Total income for Q3 rose to Rs 2,837 crore, up from Rs 1,993 crore in the corresponding period of the previous fiscal. Revenue from operations increased by 11.9% year-on-year to Rs 2,618 crore, compared to Rs 2,072 crore in the same quarter last year.

Operating performance remained robust, with EBITDA rising 19.2% to Rs 2,241 crore, reflecting continued efficiency and scale benefits in operations.

Earnings per share impact
Earnings per share (EPS) declined sharply during the quarter. EPS in Q3 fell to Rs 0.38 in negative, compared with Rs 2.92 in the year-ago quarter, highlighting the pressure on profitability despite strong revenue and EBITDA growth.

Market reaction
The earnings announcement triggered a negative reaction in the stock market. Adani Green Energy shares slipped 12.54% to Rs 790.95 during trading. As a result, the company’s market capitalisation declined to Rs 1.29 lakh crore, reflecting investor concerns over the sharp fall in net profit.

Management commentary and outlook
Commenting on the company’s performance and growth roadmap, Ashish Khanna, CEO of Adani Green Energy, said that in calendar year 2026 the company continued its exceptional growth trajectory by adding 5.6 GW of renewable energy capacity. This addition represents nearly 14% of all new solar and wind capacity installed across India.

He further stated that the company’s operational capacity has now reached 17.2 GW, strengthening its position as India’s leading green energy provider. The landmark Khavda project, described as the world’s largest renewable energy installation, is progressing at an accelerated pace.

In addition, the company is on track to deploy one of the world’s largest single-location battery energy storage projects in the coming months. The hydro pumped storage project on the Chitravathi river in Andhra Pradesh is also progressing as planned.

Conclusion
Adani Green Energy’s Q3 results present a mixed picture. While revenue growth, EBITDA expansion, and capacity additions underline the company’s strong operational momentum, the sharp decline in net profit and EPS has raised short-term concerns for investors. Going forward, execution of large-scale projects, expansion into energy storage, and sustained capacity growth will be key factors to watch as the company navigates profitability challenges while continuing its leadership in India’s renewable energy sector.