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.
ALSO READ: Premier, Waaree Energies Shares Stabilise After Solar Policy-Driven Selloff
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.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.