Adani Green Energy shares jump 5% after earnings announcement

shares Adani for green energy It jumped 5 per cent in early trading on Tuesday after the company reported a fourfold increase in its consolidated net profit for the March quarter.

The stock rose 4.99 per cent to Rs 998.10 on BSE.

On NSE, it increased by 5 per cent to Rs 998.55.

In terms of trading volume, 1.80 lakh shares of the company were traded on Bahrain Bourse and more than 15 lakh shares on New York Stock Exchange during morning trading.

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Adani Green Energy posted on Monday a four-fold increase in its consolidated net profit to ₹ 507 crore for the March quarter compared to the same period last year mainly on the back of higher revenue.

The company’s consolidated net profit was ₹121 crore in the quarter ended March 31, 2022, BSE filing said.

The company’s total income rose to ₹2,988 crore in the quarter from ₹1,587 crore in the same period last year.

Stock markets were closed on Monday on account of Maharashtra Day.