Adani Green Shares Surge 3% on Strong Earnings

New Delhi, Jan 29 (PTI) Shares of Adani Green Energy on Monday climbed more than 3 per cent after the company posted an over 148 per cent jump in consolidated net profit to Rs 256 crore in the December quarter, mainly on the back of higher revenues.

The stock advanced 3.11 per cent to settle at Rs 1,716.20 apiece on the BSE. During the day, it jumped 5.13 per cent to Rs 1,750.

On the NSE, it climbed 3 per cent to Rs 1,715.50 per share.

In volume terms, 1.49 lakh shares of the company were traded on the BSE and over 34.35 lakh shares exchanged hands on the NSE during the day.

The consolidated net profit of the company was at Rs 103 crore in the year-ago period, according to a regulatory filing.

Total income rose to Rs 2,675 crore in the third quarter of the current fiscal from Rs 2,256 crore in the same period a year ago.

"With the recently announced equity and debt capital raise, we have put in place the capital management framework for a well secured growth path to the targeted 45 GW capacity by 2030.

"We continue to ramp up our execution capability by focusing on a resilient supply chain with emphasis on localisation, digitalisation at scale, workforce expansion and competency building," Amit Singh, CEO of Adani Green Energy, said in a statement.