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 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.

India's Adani Enterprises, the flagship company of the Adani group, reported a slump in third-quarter profit on Thursday, impacted by performance at its key coal trading division. The company's consolidated net profit declined to 578.

According to the statement, its consolidated profit after tax increased 7 per cent to Rs 2,940 crore in the quarter compared to Rs 2,738 crore a year ago.

The company’s consolidated revenue from operations for Q3FY25 was Rs 13,671.18 crore, marking a 5.23 per cent year-on-year increase from Rs 12,991.44 crore in Q3FY24