What's Going On With These 2 Adani Stocks Today

Two Adani Group companies reported their earnings for the quarter ended June on Monday. While Adani Green was surging in the early hours of trading on Tuesday, Adani Energy Solutions (formerly Adani Transmission) was down in the red.

What Happened: Adani Green’s consolidated net profits soared up 51% to ₹322 crore in the June quarter as compared to the ₹214 crore profit it booked in the same quarter last year. The company's revenue from operations came in at ₹2,176 crore, up 33% from the year-ago period.

Revenue from the power supply business was up by 55% year-over-year at ₹2,059 crore. EBITDA for the power supply segment stood at ₹1,938 crore with an EBITDA margin of 92.5%. 

Adani Energy Solutions’ profits for the quarter ended June came in at ₹181.9 crore, up 8% year-on-year. Revenue from operation grew 16.9% YoY to Rs 3,663.9 crore. The company’s EBITDA for the quarter stood at ₹1,378 crore. The company changed its name last week.

Another Adani Group company Adani Total Gas is scheduled to release its earnings later.

Price Action: Adani Transmission shares were up 1.16% to trade at ₹811.15. Adani Green shares tarded 2.44% higher at ₹1,120 as the markets opened on Tuesday.

Read Next: Mukesh Ambani’s Reliance Hops Into Australia’s Renewable Energy Space With New Deal

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Posted In: EarningsNewsAdani GreenAdani GroupAdani Transmission