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Adani Green Energy had booked a consolidated net profit of Rs 21.75 crore for June quarter mainly on the back of higher revenues.
The company had a net loss of Rs 97.44 crore during the corresponding period of last fiscal. Total income rose to Rs 878.14 crore in April-June 2020-21 from Rs 675.23 crore in the same period last year.
The company had zero operational disruption during COVID-19 pandemic. The operations continued normally with continuous off-take of energy during COVID-19 pandemic with no material curtailment on a portfolio basis on the back of ‘must-run’ status given to Renewable plants in India and Electricity being classified as an ‘essential service’ during lock-down.
Adani Green Energy share closed 5 per cent higher today after the clean energy firm reported earnings for the first quarter of the financial year 2020-21. Adani Green Energy share price raised 4.99 per cent intra-day to Rs 608.5 against previous close of Rs 576.90 on BSE.
In one year, the share has gained 1159 per cent and risen 265 per cent since the beginning of this year. In a month, the share has gained 68.73 per cent. Total 1.14 lakh shares were traded with a turnover of Rs 6.89 crore on BSE. Adani Group firm’s market capitalization rose to Rs 95,162 crore on BSE.
Commenting on the quarterly results of the Company, Gautam Adani, Chairman, Adani Green Energy Limited said, “The growing domestic and international demand for cleaner and greener technology, has accelerated the green energy transition in the country and we are prepared to lead this change.”
Today, sustainability and economy go hand in hand and as such the goals of the organization must be aligned with the needs of the nation. The definitive steps taken by us in this journey are calculated to meet our ESG goals at each turn. “This quarter, we have cemented our place in the global renewable space by winning the world’s largest solar bid and with this we have been ranked as the largest solar power developer in the world by Mercom Capital,” Adani said.
Vneet S. Jaain, MD and CEO, Adani Green Energy said, “The financial results for Q1 FY21 display the resilience of the Company even in scenarios like COVID-19 pandemic. Across our plants, we have continued completely normal operations even in this pandemic situation and remain committed towards power supply being the ‘essential services’.”
