Adani Power has reported a significant decline in net profit for the second quarter of the current fiscal year, with consolidated net profit dropping by 50% to ₹3,297.52 crore compared to ₹6,594.17 crore in the same quarter last year. According to the company’s regulatory filing on Monday, the reduction in net profit is attributed to lower income and increased tax expenses.

The fall in revenue is partly due to a reduction in one-time revenue recognition from prior periods. The company reported a ₹598 crore one-time revenue gain for Q2 of FY25 (July-September 2024), compared to ₹2,781 crore during the same period last year. Adani Power further explained that total one-time revenue recognition in the first half of FY25 (April-September 2024) was ₹1,020 crore, significantly lower than the ₹9,278 crore recorded in H1 FY24. This decline was due to the resolution of major regulatory issues and the realisation of outstanding payments from power distribution companies (discoms) achieved in the previous fiscal year.