Adani Solar Commissions 250 MW Project, Boosting Total Renewable Capacity To 12,591 MW
Adani Green Energy's consolidated net profit rose 85% year-on-year in the third quarter of fiscal 2025.
(Source: Unsplash)
Adani Green Energy Ltd.'s step-down subsidiary, Adani Solar Energy Ap Eight Pvt. Ltd., has commissioned a 250 MW solar power project at Kadapa, Andhra Pradesh.
Adani Green Energy's total operational renewable generation capacity has increased to 12,591.1 MW after the commissioning of the plant, according to an exchange filing on Tuesday. The plant will be commissioned from March 8, 2025.
Adani Green Energy's consolidated net profit rose 85% year-on-year in the third quarter of fiscal 2025.
The renewable energy company's bottom line came in at Rs 474 crore in the quarter ended Dec. 31, 2024, in comparison with Rs 256 crore in the same quarter a year ago.
The revenue during the quarter under review came in at Rs 2,365 crore, up 2.3% as against Rs 2,311 crore in the corresponding period of the last fiscal.
Shares of Adani Green Energy closed 0.22% lower at Rs 824.20 apiece on the NSE, compared to a 0.17% higher in the benchmark Nifty. The stock has risen 30.37% in the last 12 months.
Out of 43 analysts tracking the company, 29 suggest 'buy' and 14 recommend 'hold,' according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 28.5%.
