Adani Green Energy shares rallied nearly 8% after reporting a 95% jump in net profit for the June quarter, driven by higher revenues. The company's market capitalization surged by Rs 16,584.82 crore.
Photograph: Rupak De Chowdhuri/Reuters
New Delhi, Jul 25 (PTI) Shares of Adani Green Energy Ltd jumped nearly 8 per cent on Thursday after the firm posted nearly a 95 per cent rise in consolidated net profit to Rs 629 crore for the June quarter, on the back of higher revenues.
The company's stock zoomed 6.10 per cent to settle at Rs 1,820.70 on the BSE. Intra-day, it rallied 7.80 per cent to Rs 1,850.
On the NSE, it climbed 7.75 per cent to Rs 1,849.
The company's market capitalisation (mcap) soared Rs 16,584.82 crore to Rs 2,88,404.79 crore.
The company reported Rs 323 crore consolidated net profit for the quarter ended on June 30, a BSE filing showed on Thursday.
Total income rose to Rs 3,122 crore in the quarter from Rs 2,550 crore in the same period a year ago.
Adani Green Energy CEO Amit Singh said, "Adani Green is well on track to achieve its 2030 capacity target of 50 GW, including at least 5 GW energy storage, in the form of pumped hydro, with sites already secured and clear visibility on evacuation.
Rediff.com » Market News » Adani Green Shares Surge 8% on Strong Q1 Earnings | Market Cap Soars
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