Adani Green Energy shares zoom nearly 11 pc post Q2 earnings

Shares of Adani Green Energy Ltd (AGEL) on Wednesday surged by nearly 11 per cent after the company posted a 28 per cent year-on-year rise in consolidated net profit in the September quarter.

The stock jumped 10.80 per cent to Rs 1,113.05 apiece on the BSE. During the day, it zoomed 13.98 per cent to Rs 1,145. On the NSE, the stock rose sharply by 10.79 per cent to Rs 1,112.60 each. Adani Green Energy Ltd on Tuesday posted a 28 per cent year-on-year rise in consolidated net profit to Rs 644 crore in the September quarter, driven by the renewable power business.

The company had clocked a net profit of Rs 515 crore in the July-September period of the preceding 2024-25 financial year, the Adani Group entity had said in an exchange filing. The company's revenue from power supply rose to Rs 2,776 crore from Rs 2,308 crore in the second quarter a year ago.

Total income dropped to Rs 3,249 crore in the September quarter from Rs 3,396 crore in the year-ago period. Total expenses stood at Rs 2,874 crore as against Rs 2,857 crore in Q2 FY25.

In a separate statement, Ashish Khanna, the CEO of Adani Green Energy, said, "We are making steady progress in our largest ongoing development of a 30 GW RE plant at Khavda in Gujarat. We are consistently adopting innovative renewable technologies and digitalising ever more aspects of our business to boost operational efficiency, project execution and safety."

Meanwhile, a majority of other group stocks also ended higher, with Adani Energy Solutions rising 5.05 per cent, NDTV climbing 3.26 per cent, Ambuja Cements (2.95 per cent), Adani Ports (2.68 per cent), Adani Total Gas (2.15 per cent), Sanghi Industries (1.69 per cent), Adani Enterprises (1.65 per cent) and ACC (0.96 per cent).

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