India's Adani Power posted a smaller quarterly core profit on Wednesday due to a sharp drop in power demand and the thermal power producer also said it would raise 50 billion rupees ($578 million) by selling shares to institutional investors.

Adani Power Ltd posted a 7.4% rise in consolidated net profit at Rs 2,940.07 crore for the December quarter, with revenue up 11% at Rs 14,833 crore. The company approved a Rs 5,000 crore fund raise via QIP and increased the NCD limit to Rs 11,

Adani Power Q3 Results: Adani Power Ltd on Wednesday reported an 7.38% year-on-year rise in its consolidated net profit for the fiscal's third quarter ended December (Q3FY25) to ₹ 2,940.07 crore. The company had reported a profit of ₹ 2,737.96 crore in the year-ago period.

Adani Power on Wednesday reported 7.4 per cent growth in net profit at Rs 2,940 crore in Q3 FY25, compared to Rs 2,738 crore in the same period last fiscal (FY24).