New Delhi, Oct. 29 -- Adani Green Energy, the renewable energy arm of the Adani Group, saw its shares jump 14% in early trade on Wednesday, October 29, hitting a one-month high of Rs.1,145. The rally came as a reaction to the company's September quarter numbers, which beat Street estimates, also helping end the stock's three-day losing streak.
The company announced the numbers post-market hours on Tuesday. Though revenue largely stayed flat, higher energy sales and operational efficiency led to a 25% YoY jump in consolidated net profit to Rs.644 crore.
Energy sales rose 39% year-on-year to 19,569 million units from 14,128 million units a year ago, driven by growth across hybrid, wind, and solar segments. Total income dropped to Rs.3,249...
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