Adani Green Shares Rocket 8% As Profit Jumps 38% To ₹446 Cr

Adani Green‘s share price shot up sharply after the company posted its earnings for the quarter ended June on Thursday afternoon.

What Happened: The company’s net profit for the quarter came in at ₹446 crore, up around 38% from the ₹322 crore posted in the same quarter last year. Total revenue from operations stood at ₹2,834 crore, up around 31% from the ₹2,162 crore posted in the same quarter of the previous year.

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Revenue from power supply went up around 24% to ₹2,528 crore, compared to the ₹2,045 crore reported in the corresponding quarter of the previous year. Shares of the Adani Group company shot up sharply as soon as the announcement was made.

Operational capacity expanded by 31% year-on-year to 10,934 megawatts, driven by greenfield additions including 2,000 megawatts of solar capacity in Khavda, 418 megawatts of solar capacity in Rajasthan, and 200 megawatts of wind capacity in Gujarat.

Energy sales increased by 22% YoY, propelled by robust capacity additions and strong operational performance.

Price Action: Adani Green’s share price was up 7.37% to trade at ₹1,842.50 on Thursday afternoon.

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