Adani Power share price gained over 3% in the early trade on Friday after the company reported a sharp jump in its net profit for the quarter ended June 2023. Adani power shares rose as much as 3.65% at the opening to ₹284.95 apiece on the BSE.
Adani Power, the Adani group company, on Thursday, had posted a net profit of ₹8,759 crore for the first quarter of FY24, registering a robust growth of 83% from ₹4,780 crore in the same quarter last year.
The company’s revenue in Q1FY24, however, declined 19.8% to ₹11,006 crore from ₹13,723 crore in the corresponding quarter of last fiscal.
Consolidated EBITDA during the quarter under review fell 35% to ₹3,514 crore from ₹5,412 crore, while EBITDA margin declined to 32% from 39%, YoY.
Read here: Adani Power Q1 results: Profit surges 83% on smaller tax bill
Adani Power’s installed capacity grew to 15,250 MW as of June 30, 2023, from 13,650 MW as of June 30, 2022, after commissioning of the 1,600 MW Godda Ultra-supercritical Power Plant, which supplies cross-border power to Bangladesh.
The company achieved an average consolidated Plant Load Factor (PLF) of 60.1% and sales of 17.5 Billion Units (BU) on an installed capacity of 15,250 MW, as compared to consolidated PLF of 58.6% and sales volume of 16.3 BU on an installed capacity of 13,650 MW in the quarter ended 30th June 2022.
At 9:45 am, Adani Power share price was trading 0.75% higher at ₹276.95 apiece on the BSE.
Catch Live Market Updates here
“Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!” Click here!
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
Download the Mint app and read premium stories
Log in to our website to save your bookmarks. It’ll just take a moment.
You are just one step away from creating your watchlist!
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
Your session has expired, please login again.
You are now subscribed to our newsletters. In case you can’t find any email from our side, please check the spam folder.
This is a subscriber only feature Subscribe Now to get daily updates on WhatsApp