Mumbai: Rocket-like growth can be seen in the stock of Adani Group’s Green Energy Company. The reason is the company’s quarterly results. In which the company has registered tremendous profits. Yes, Adani Green Energy has quadrupled its profit in the March quarter. Talking about the figures, the company has earned a profit of Rs 507 crore.
According to the information given by the company to the stock market, the company’s profit for the quarter ended March 31, 2022 was Rs 121 crore. In terms of revenue, it has almost doubled to Rs 2,988 crore from Rs 1,587 crore in the March quarter a year ago.
The company’s profit for the financial year 2002-23 almost doubled from Rs 489 crore in the previous financial year. Yes, in the financial year 2022-23, the profit of the company has been seen at Rs 973 crore. The company’s total revenue in FY 2022-23 increased to Rs 8,633 crore from Rs 5,548 crore a year ago. Adani Green Energy announced that the company’s MD and CEO Vineet S. Jain has been given the post of MD of the company from 11 May 2023 itself.
According to the company, energy sales are expected to grow by 58 per cent year-on-year to 14,880 million units in FY2023. Adani Green added 2,676 MW of renewable energy capacity to its operational fleet in FY23. These include a 2,140 MW solar-wind hybrid plant in Rajasthan, a 325 MW solar power plant in Madhya Pradesh and a 212 MW solar power plant in Rajasthan. Adani Green has signed PPAs with SECI for 450 MW of wind projects and 650 MW of solar projects in FY23, further strengthening the project line-up.
