Shares of Adani Green Energy rose nearly 6% in the afternoon session on Thursday after the Adani Group firm reported a 95% increase in its June 2024 quarter profit. Profit rose to Rs 629 crore in Q1 against Rs 323 crore in the June 2023 quarter. Total income climbed to Rs 3122 crore in Q1 against Rs 2550 crore in the June 2023 quarter.
Adani Green Energy shares rose 5.99% to Rs 1818.90 against the previous close of Rs 1716 on BSE. Market cap of the firm climbed to Rs 2.87 lakh crore.
Revenue climbed 23% to Rs 2856 crore in Q1 against Rs 2322 crore in the June 2023 quarter. EBITDA rose 17.3% to Rs 2442 crore in the last quarter against Rs 2081 crore in the Q1 of the previous fiscal.
"The robust growth in revenue, EBITDA and cash profit is primarily driven by capacity addition of 2,618 MW over the last one year," said the firm. Earnings per share climbed to Rs 1.85 in Q1 against Rs 2.63 in the June 2023 quarter.
In terms of capacity addition, operational capacity rose 31% YoY to 10.9 GW with massive greenfield addition of 2.6 GW. The firm operationalised wind power capacity of 250 MW at Khavda deploying India’s largest 5.2 MW wind turbine generator in July 2024.
"This takes total operational capacity at Khavda to 2.25 GW and total operational portfolio to 11.2 GW," said Adani Green Energy.