Adani Power Rallies Nearly 5% After Net Profit Surges In March Quarter
Shares of Adani Power rose nearly 5 per cent on Thursday after the company’s consolidated net profit rose to Rs 4,645.47 crore in the March quarter.
The stock closed at Rs 277.90, up 4.40 per cent on the BSE. During the day, it rose 4.99 percent to Rs 279.50.
On the NSE, it closed at Rs 279.65, up 4.99 per cent.
In terms of trading volume, over 31.93 lakh shares were traded on BSE and over 3.98 crore shares on NSE during the day.
Adani Power’s consolidated net profit rose to Rs 4,645.47 crore in the March quarter from Rs 13.13 crore in the year-ago period, mainly on the back of higher revenue.
The company’s total income rose to Rs 13,307.92 crore for the quarter ended March 31, 2022, from Rs 6,902.01 crore in the same period a year ago.
Consolidated net profit for 2021-22 rose to Rs 4,911.58 crore from Rs 1,269.98 crore in the year-ago period.
The company’s total income in the last financial year increased to Rs 31,686.47 crore from Rs 28,149.68 crore in the year-ago period.