Adani Power Reports Decline in Q1 Net Profit

31 Jul 2024 , 03:41 PM

Adani Power, a leading private thermal power producer, reported a substantial 55% year-on-year decline in net profit for the first quarter, registering ₹3,900 crore compared to ₹8,759 crore in the same period last year.

Despite the fall in net profit, the company’s revenue saw a significant increase, rising 29% year-on-year to ₹14,717 crore from ₹11,005 crore in the corresponding quarter of the previous fiscal year. Adani Power boasts a thermal power capacity of 15.25 gigawatts (GW) and operates a 40 MW mega solar plant at Naliya, Bitta, Kutch, Gujarat.

On July 30, Adani Power’s stock closed nearly 2% higher at ₹730.00 on the National Stock Exchange (NSE). The company’s market capitalization stands at ₹2.8 lakh crore