Shares of Adani Power continued their upward march and were up 4.5 per cent at Rs 389.50 on the BSE in Friday’s intra-day trade after the company reported robust earnings, with profit after tax (PAT) for the quarter ended September 2023 (Q2FY24) up about 9.5 times at Rs 6,594 crore, on back of higher income. The Adani Group integrated power utilities company had posted PAT of Rs 696 crore a year ago quarter. The higher net profit during the quarter was due to improved operational performance, higher one-time income, and recognition of deferred tax asset. The stock price of Adani Power has zoomed 25 per cent in past seven trading days. It had hit a 52-week high of Rs 409.70 on September 12, 2023 and touched a record high of Rs 432.50 on August 22, 2022.
