Adani Power Q3 net dives 96%, Wilmar sees 16% rise

MUMBAI: Two Adani Group companies declared their quarterly earnings on Wednesday. While profit of Adani Power fell 96% to Rs 9 crore during the October to December period of fiscal 2023, the net income of Adani Wilmar rose 16% to Rs 246 crore during the three months under consideration.

Adani Power’s profit was hit because of fuel costs, which zoomed 91% to Rs 5,533 crore. The country’s largest private thermal power player had clocked a consolidated profit of Rs 218 crore a year ago, according to a regulatory filing.

Adani Wilmar’s earnings improved on the back of 16% volume growth.