Shares of Adani Green Energy Ltd soared nearly 8% on Thursday after the company reported an astounding 95% rise in consolidated net profit, reaching Rs 629 crore for the June quarter, driven by higher revenues.
On the BSE, the stock jumped 6.10% to close at Rs 1,820.70, hitting an intra-day high of Rs 1,850 with a 7.80% rise. Similarly, on the NSE, it climbed 7.75% to Rs 1,849.
This surge in stock prices boosted the company's market capitalisation by Rs 16,584.82 crore, bringing it to a total of Rs 2,88,404.79 crore.
The June quarter report revealed a consolidated net profit of Rs 323 crore, supported by a rise in total income to Rs 3,122 crore, up from Rs 2,550 crore in the same quarter last year.
Adani Green Energy CEO Amit Singh stated, "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".
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