Gautam Adani's Adani Power shares up nearly 19%

Adani Power posted a consolidated net profit of ₹13.13 crore in the March quarter, mainly on account of higher revenues.

Adani Power stocks on Tuesday hit a record high of ₹151 after zooming 19 per cent in intra-day trade over heavy volumes. The stock of the Gautam Adani-led Adani Group company has zoomed 58 per cent in the last one week. It was trading at ₹150.30, up ₹23.35 or 18.39 per cent, and at ₹150.35, higher at 23.45 or 18.48 per cent, at 11:40am on BSE and NSE respectively.

Adani Power's stocks have zoomed 58 per cent in the last one week. (Reuters Photo)

Last month, Adani Power posted a consolidated net profit of ₹13.13 crore in the March quarter, mainly on account of higher revenues. The company posted a consolidated net loss of ₹1,312.86 crore in the quarter ended March 31, 2020. Adani Power’s total income of the company rose to ₹6,902.01 crore in the quarter from ₹6,327.57 crore in the same period a year ago.

The company's consolidated net profit stood at ₹1,269.98 crore, for the fiscal year of 2020-21 and reported a loss of ₹2,274.77 crore in 2019-20. Total income in 2020-21 came in at ₹28,149,68 crore as compared to ₹27,841.81 crore in 2019-20.

Adani Power is the largest private thermal power producer in India and a part of the diversified Adani Group. The company has an installed thermal power capacity of 12,410 MW spread across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh, apart from a 40 MW solar power plant in Gujarat.

(With agency inputs)