Adani Power hits record high as Q1 net zooms 17-fold; up 221% in 6 months

A nation-wide heatwave and broadening of the recovery in economic activity continued to drive electricity demand growth in the first quarter of FY23, the company said.

Shares of Adani Power hit a record high of Rs 352.30 as the stock gained 3 per cent on the BSE in Thursday’s intra-day trade after the company reported 17-fold jump in its consolidated profit after tax (PAT) at Rs 4,780 crore in the June quarter (Q1FY23).  The Adani Group electric utility company had posted PAT of Rs 278 crore in Q1FY22.

In the past one month, the stock has surged nearly 35 per cent as compared to 10 per cent rally in the S&P BSE Sensex. In the last six months, the stock has zoomed 221 per cent