Adani Green Energy Shares Soar After Impressive Profit Surge

Shares of Adani Green Energy Ltd surged nearly 8% on Thursday, following a remarkable 95% increase in consolidated net profit to Rs 629 crore for the June quarter. The rise is attributed to higher revenues, with the company well-positioned to meet its 2030 capacity target of 50 GW.

Shares of Adani Green Energy Ltd jumped nearly 8 percent on Thursday after the firm reported a nearly 95 percent increase in consolidated net profit to Rs 629 crore for the June quarter, driven by higher revenues.

The company's stock surged 6.10 percent to close at Rs 1,820.70 on the BSE, and at its peak, it rallied 7.80 percent to Rs 1,850. On the NSE, shares climbed 7.75 percent to Rs 1,849.

Adani Green Energy's market capitalisation soared by Rs 16,584.82 crore, reaching Rs 2,88,404.79 crore. The company's total income for the quarter rose to Rs 3,122 crore, compared to Rs 2,550 crore during the same period last year.

CEO Amit Singh highlighted that Adani Green is on track to meet its 2030 goal of a 50 GW capacity, including at least 5 GW of energy storage in the form of pumped hydro, with sites already secured and clear plans for power evacuation.