Mumbai, Oct. 23 -- A surge in India's power demand and robust prices in the electricity spot market during the July-September period propelled Adani Power Ltd's profit to more than double the same period last year, helping it beat street estimates.

The Ahmedabad-based leading thermal power producer reported a consolidated profit of Rs.6,919 crore attributable to shareholders, up 134% year-on-year (y-o-y) and 44% from the preceding quarter. Six analysts polled by Bloomberg had estimated a profit of Rs.3,112 crore.

This was after the company sold 26.4 billion units of power during the quarter, over a tenth more than the previous year. India's peak power demand during this period was almost a fifth more than the previous year at 270 gigawa...