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India's Adani Power quarterly profit doubles on strong power demand, one-off gains
India’s Adani Power reported a more than 100% rise in quarterly profit on Friday, boosted by strong power demand due to a weak monsoon season and one-off gains. The company, part of billionaire Gautam Adani-led Adani group, said its net profit rose to 69.20 billion rupees ($728.9 million) in the three months ended September 30 from 29.53 billion rupees a year earlier. Profit was boosted by 24.22 billion rupees in one-time revenue, after revisions to historical energy charges under certain power purchase agreements. The firm also benefited from a 12.11 billion rupee reversal of earlier tax expe...
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