Adani Green Energy Gains After Net Profit Rises 86% In March Quarter
Share price of Adani Green Energy gained around three per cent on Thursday, May 6, a day after the renewable energy company announced its January-March quarter results for the financial year 2020-21. On Thursday, May 6, Adani Green Energy opened on the BSE at Rs 1089.95, registering an intra day high of Rs 1099.95, and an intra day low of Rs 1072.00, in the trading session so far. According to a regulatory filing by the firm to the stock exchanges, Adani Green Energy reported a net profit of Rs 104 crore on a consolidated basis in the March quarter. (Also Read: Adani Green Energy's Subsidiary Unit Commissions Solar Plant In Uttar Pradesh )
According to the statement, Adani Green Energy, reported a 86 per cent growth in net profit during the fourth quarter of the fiscal year 2020-21, as compared to Rs 56 crore in the corresponding quarter of the previous fiscal year. The company reported a rise in net profit mostly due to higher revenues.
Adani Green Energy's total income in the March quarter stood at Rs 1,082 crore, compared to Rs 719 crore in the same period last year. For the financial year 2200-21, Adani Green Energy reported a total profit of Rs 182 crore on a consolidated basis, compared to a loss of Rs 68 crore in the previous fiscal.
On the NSE, Adani Green Energy opened at Rs 1,083.95, witnessing an intra day high of Rs 1,100, and an intra day low of Rs 1,072, in the session so far. It was last trading 2.18 per cent higher at Rs 1,087.75 on the NSE.
Shares of Adani Green Energy were last trading 2.15 per cent higher at Rs 1088.80 on the BSE.
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