Adani Power hits record high as Q1 net zooms 17-fold; up 221% in 6 months

Shares of Adani Power hit a record high of Rs 352.30 as the stock gained 3 per cent on the BSE in Thursday’s intra-day trade after the company reported 17-fold jump in its consolidated profit after tax (PAT) at Rs 4,780 crore in the June quarter (Q1FY23). The Adani Group electric utility company had posted PAT of Rs 278 crore in Q1FY22.

In the past one month, the stock has surged nearly 35 per cent as compared to 10 per cent rally in the S&P BSE Sensex. In the last six months, the stock has zoomed 221 per cent as against 0.1 per cent decline in the benchmark index.

In Q1FY23, the company’s consolidated total revenue more-than-doubled or up 115 per cent year-on-year (YoY) to Rs 15,509 crore against Rs 7,213 crore in Q1FY22.