Gautam AdaniImage Credit source: File Photo
Rocket-like speed can be seen in the stock of Adani Group’s Green Energy Company. The reason for this is the quarterly results of the company. In which the company has registered tremendous profits. Yes, Adani Green Energy has made four times profit in the March quarter. Talking about the figures, the company has made a profit of Rs 507 crore. According to the information given by the company to the stock market, the profit of the company for the quarter ending March 31, 2022 was Rs 121 crore. If we talk about revenue, then in the March quarter a year ago, it was Rs 1,587 crore, which has increased to Rs 2,988 crore, which is almost double.
Revenue also increased
For the financial year 2002-23, the company’s profit has almost doubled from Rs 489 crore in the previous financial year. Yes, in the financial year 2022-23, the profit of the company has been seen at Rs 973 crore. In the financial year 2022-23, the company’s total income increased from Rs 5,548 crore a year ago to Rs 8,633 crore. Adani Green Energy announced that the company’s MD and CEO Vineet S. Jain has been given the post of company MD only, which will be applicable from May 11, 2023.
Increase in renewable energy capacity
According to the company, in the financial year 2023, energy sales have increased by 58 percent on an annual basis to 14,880 million units. Adani Green has added 2,676 MW of renewable energy capacity to its operational fleet in FY23. Which includes 2,140 MW solar-wind hybrid plant in Rajasthan, 325 MW solar power plant in Madhya Pradesh and 212 MW solar power plant in Rajasthan. Adani Green has signed PPAs with SECI for 450 MW of wind projects and 650 MW of solar projects in FY23, further strengthening the project pipeline.
Shares of Adani Green may increase
After good results, today the company’s shares can see a boom. Stock markets will open on Tuesday after a three-day holiday. By the way, on Friday, the shares of Adani Green saw a gain of 3.67 per cent and the company’s stock closed at Rs 950.60. By the way, on April 28, the company’s stock went to a 52-week low with Rs 439.35. Since then, the shares of the company have seen a gain of 116.36 per cent.