Adani Green Energy share price jumped 5% to Rs 998.1 and hit the upper circuit today after the company’s consolidated net profit for the fourth quarter ended March 31 more than tripled to Rs 507 crore owing to strong capacity addition
In Q4FY23, Adani Green Energy’s total income nearly doubled to Rs 2,988 crore from Rs 1,587 crore recorded during the year-ago quarter. This was the company's first quarterly result after the scathing Hindenburg Research report released in January this year
Adani Green Energy’s sale of energy rose by 58% on-year to 14,880 million units in FY23, primarily backed by strong capacity addition, analytics-driven operations and maintenance enabling high plant availability and deployment of latest renewable technologies
“Our business model has demonstrated remarkable resilience as evidenced by our strong financial performance. We are leaders in the green energy space and have consistently set new industry standards in efficiency, performance and capacity development. We are expediting the transition to sustainable energy and playing a pivotal role in fulfilling India’s obligations to a greener future,” said Adani Group Chairman Gautam Adani
Adani Green Energy shares have risen over 13% in the last one month while the stock has tanked 65% in the last one year. Adani Green Energy shares touched a 52-week high of Rs 2,998 on April 29, 2022, and a 52-week low of Rs 439.35 this year on February 28. The company’s market capitalization stands at Rs 1.53 lakh crore as of 10:30 am today
Most Adani group stocks were trading in green today with Adani Enterprises rising 1.53% to Rs 1,953.3 per share. The group’s stocks fell after the US-based short-seller Hindenburg Research accused the Adani family of fraud and stock manipulation
After Adani Green Energy and NDTV, at least four listed Adani group companies will disclose their quarterly results over the next three days. Adani Total Gas and Ambuja Cements, two Adani group firms will report their quarterly results today, Tuesday. The boards of Adani Total Gas, Ambuja Cements will also consider recommendation of dividend, if any, for FY23
Adani Wilmar will disclose its quarterly results on Wednesday. The results would be out during market hours as an earnings call, represented by CEO and MD Angshu Mallick and CFO Shrikant Kanhere is scheduled at 3 PM that day
Adani Enterprises, the Adani group's flagship, will report its quarterly results on May 4, Thursday. Its board would also consider a proposal for dividend. Three Adani group firms namely Adani Ports & SEZ, Adani Power, Adani Transmission, and ACC are yet to disclose their quarterly results
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