Multibagger Adani Group stock soars to register manifold rise in Q1 net profit

Company’s total income increased 15,509 crore in the June quarter. this was it 7,213 crore in the same period last year. the cost stood 9,642.8 crore during the quarter under review. Compared to 6,763.5 crore in the last financial year.

Adani Power’s EBITDA jumped 227% over last year. The extension of a nationwide heatwave and improving economic activity continued to drive electricity demand growth in the first quarter of FY13, the firm said in the release.

During the first quarter of FY23, the power plants of the Adani Group firm and its subsidiaries achieved an average plant load factor of 58.6% and total sales of 16.3 Billion Units (BU) on an installed basis of 13,650 MW.

“We have been able to effectively utilize the opportunities presented by the market situation, while leveraging our diversified fleet and operational-excellence to meet the growing power demand. Regulatory issues that were long pending, complete solutions Our drive towards realizing our long term strategies and fulfilling our stakeholder value aspirations..,” Anil Sardana, Managing Director Adani Power Ltd said in a separate statement.

Shares of Adani Power have so far outperformed by delivering multibagger returns of over 242% in 2022 (Year-to-date or YTD), while multibagger stock Has jumped about 285% in a one-year period.

Adani Power Limited, part of the Indian conglomerate Adani Group, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 13,610 MW spread over seven power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh and Madhya Pradesh, besides a 40 MW solar power plant in Gujarat.

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