Power company Jaiprakash Power Ventures shares rallied as much as 8.4% in Tuesday's trade, touching an intraday high of Rs 18.32, after the company reported a strong set of earnings for the June quarter (Q1FY27).
At 9:56 am, the stock was trading 5.03% higher at Rs 17.75 apiece, outperforming the broader market. The BSE Sensex was down 0.10% at the time.
The rally came after the company posted robust year-on-year growth in both profit and revenue.
Jaiprakash Power Ventures reported a consolidated net profit of Rs 468.84 crore for Q1FY27, up nearly 69% from Rs 278.13 crore in the corresponding quarter last year.
Revenue from operations, or topline, rose 12.2% year-on-year to Rs 1,775.70 crore, compared with Rs 1,583.16 crore in the year-ago period.
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Total expenses increased to Rs 1,236.06 crore during the quarter from Rs 1,196.07 crore a year earlier.
Despite Tuesday's sharp rally, the stock remains down 2.5% over the past one month. However, it has gained nearly 17% in the last six months.
The stock has touched a 52-week high of Rs 24.45 and a 52-week low of Rs 13.14.
Jaiprakash Power Ventures is a Jaypee Group company engaged in power generation in India. Incorporated in 1994, the company operates hydroelectric and thermal power assets and runs the country's largest private-sector hydroelectric power plant. It is listed on both the BSE and NSE.
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