Adani Power Rallies Nearly 5% After Net Profit Surges In March Quarter

Shares of Adani Power on Thursday rallied nearly 5 per cent after the company's consolidated net profit jumped to Rs 4,645.47 crore in the March quarter.

The stock climbed 4.40 per cent to settle at Rs 277.90 apiece on the BSE. During the day, it rallied 4.99 per cent to Rs 279.50.

On the NSE, it went up by 4.99 per cent to end at Rs 279.65 apiece.

In traded volume terms, 31.93 lakh shares were traded on the BSE and over 3.98 crore shares on the NSE during the day.

Adani Power's consolidated net profit jumped to Rs 4,645.47 crore in the March quarter from Rs 13.13 crore in the year-ago period, mainly on the back of higher revenues.

Total income of the company rose to Rs 13,307.92 crore in the quarter ended on March 31, 2022 from Rs 6,902.01 crore in the same period a year ago, it said in a statement on Thursday.

The consolidated net profit for 2021-22 climbed to Rs 4,911.58 crore from Rs 1,269.98 crore in the year-ago period.

Last fiscal, the company's total income increased to Rs 31,686.47 crore from Rs 28,149.68 crore in the same period a year ago.