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.

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.

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.