Power utilities post 12% Q1 profit growth, BHEL turns around

India’s power utilities delivered a 12 per cent earnings expansion in the first quarter of FY27, driven by robust electricity demand and a favourable base, according to a sector review by JM Financial. Adani Power posted a 28 per cent rise in net sales to Rs 17,515.6 crore and raised its long-term capacity target from 42 GW to 45 GW. NTPC recorded net sales of Rs 50,741 crore, up 8 per cent year-on-year, and plans to scale up annual capex to Rs 1.4 lakh crore to meet its 2032 target of 150 GW. Tata Power reported a 6 per cent increase in net sales to Rs 19,051.3 crore. BHEL turned profitable after eight years with net sales of Rs 7,697.7 crore, up 40 per cent year-on-year, and an order book of Rs 2.6 lakh crore. Suzlon Energy posted net sales of Rs 3,829.1 crore, up 22 per cent year-on-year, though margins narrowed to 16 per cent from 19 per cent a year ago.

Separately, seven energy-sector companies recorded over 100 per cent profit growth in Q1 FY27, according to exchange filings. Chennai Petroleum Corporation reversed a net loss of Rs 40.10 crore to post a net profit of Rs 1,031.35 crore. Mangalore Refinery and Petrochemicals reported a net profit of Rs 945.68 crore, reversing a net loss of Rs 270.66 crore. BHEL swung to a net profit of Rs 376.71 crore from a net loss of Rs 455.50 crore. Gandhar Oil Refinery saw net profit surge 633 per cent to Rs 192.29 crore. Great Eastern Shipping Company posted a 159 per cent rise in net profit to Rs 1,308.84 crore. Hitachi Energy India recorded a 123 per cent rise in net profit to Rs 294.15 crore. Emmvee Photovoltaic Power reported a 102.63 per cent jump in net profit to Rs 380.29 crore.