Adani Energy Solutions Shares Fall Over 2% After Q2 Results; Revenue Rises 53% And Tax Write-Back Lifts Profit

Adani Energy Solutions saw revenue climb sharply in Q2 FY27 as its business operations continued to grow. Net profit also rose substantially, although a significant tax-related benefit contributed to the improvement.

The company’s performance continued the revenue growth momentum recorded in the June quarter. However, operating margins remained under pressure.

Adani Energy Solutions share price fell after Q2 results. At closing on 22 October 2026, the shares ended the day at ₹1,295.00 apiece, down 2.20%

Adani Energy Solutions Q2 FY27 Results: Key Financial Highlights

Tax Write-Back Supports Profit Growth

A tax write-back of ₹1,581 crore contributed to the increase in reported earnings. While operating earnings also advanced, their growth lagged revenue, and the decline in EBITDA margin indicated continuing pressure on operating profitability.

The tax-related benefit is an important distinction when assessing the quarter, as the increase in reported net profit does not reflect operating performance alone.

Q1 Performance Provides Context

In the June quarter, revenue increased 42.4% year-on-year to ₹9,711 crore, while net profit reached ₹1,149 crore against ₹513 crore a year earlier. EBITDA rose 30% to ₹3,008 crore.

The EBITDA margin in Q1 FY27 was 31%, compared with 33.9% in the corresponding period of the previous year. The September quarter continued this pattern of revenue and operating earnings growth alongside margin pressure.

Adani Energy Solutions therefore delivered strong revenue growth in Q2 FY27, but the tax write-back and lower operating margin remain central to understanding the quality of its reported earnings.

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