Adani Power's Q3 net profit soars to Rs. 2,738 crore
What's the story
Adani Power reported a surge in its consolidated net profit for Q3 FY24, reaching a whopping Rs. 2,737.96 crore. This is much higher compared to just Rs. 8.77 crore during the same period last year. The company's revenue from operations also experienced a boost, jumping to Rs. 12,991.44 crore in Q3 FY24 from Rs. 7,764.41 crore a year earlier. CEO SB Khyalia stated that the company "continues to demonstrate its leadership across domains by achieving ever higher standards of excellence."
Stats
Total income and EBITDA climbs
The total income for Adani Power skyrocketed to Rs. 13,355 crore in the December quarter, up from Rs. 8,290 crore during the same time last year. Meanwhile, the company's EBITDA for the quarter stood at Rs. 5,009.17 crore. This is around 151% higher than the Rs. 1,995.53 crore in the third quarter of FY23.
What Next?
How Adani Power fared on the stock market
Adani Power's growth was mirrored in the company's share prices as well. On Thursday, it opened at Rs. 522.40 per share on the National Stock Exchange (NSE) and closed at Rs. 544. This was 4.63% higher in comparison to yesterday. Meanwhile, on the Bombay Stock Exchange (BSE), it closed 4.4% higher at Rs. 542.50 apiece.