Adani Green Energy Shares Surge 11% Following Strong Q2 Profit Growth of 28%

New Delhi:

Adani Green Energy Ltd (AGEL) shares surged approximately 11 percent on Wednesday following the company's announcement of a 28 percent year-on-year increase in consolidated net profit for the September quarter.

On the BSE, the stock jumped 10.80 percent to reach Rs 1,113.05 per share. During trading hours, it soared as high as 13.98 percent to Rs 1,145.

Similarly, on the NSE, the stock witnessed a sharp increase of 10.79 percent, reaching Rs 1,112.60 per share.

On Tuesday, Adani Green Energy Ltd reported a 28 percent year-on-year increase in consolidated net profit, reaching Rs 644 crore in the September quarter, driven by strong performance in its renewable power operations. This compares to a net profit of Rs 515 crore recorded in the July-September period of the previous 2024-25 financial year, according to the Adani Group entity's exchange filing.

The company's revenue from power supply increased to Rs 2,776 crore from Rs 2,308 crore in the same quarter of the previous year.

Total income, however, decreased to Rs 3,249 crore in the September quarter compared to Rs 3,396 crore in the corresponding period last year. Total expenses stood at Rs 2,874 crore, slightly higher than the Rs 2,857 crore reported in Q2 FY25.

In a separate statement, Ashish Khanna, CEO of Adani Green Energy, commented, "We are making steady progress in our largest ongoing development of a 30 GW RE plant at Khavda in Gujarat. We are consistently adopting innovative renewable technologies and digitalising ever more aspects of our business to boost operational efficiency, project execution and safety."

Meanwhile, other Adani Group stocks also performed well, with Adani Energy Solutions rising 5.05 percent, NDTV climbing 3.26 percent, Ambuja Cements up by 2.95 percent, Adani Ports increasing 2.68 percent, Adani Total Gas gaining 2.15 percent, Sanghi Industries up 1.69 percent, Adani Enterprises rising 1.65 percent, and ACC gaining 0.96 percent.