Shares of Adani Power opened Bullish after the company reported a robust quarterly report for the first quarter of the current fiscal year.

The company’s net profit jumped by 83% to Rs 8,759 crore for the June quarter against the Rs 4,780 crore reported in the year-ago quarter.

The company’s revenue from operations saw a steep decline of 19.8% to Rs 11,006 crore from Rs 13,723 crore reported in the June quarter of the previous fiscal year.

The company reported a consolidated EBITDA for the June quarter of Rs 3,514 crore, a 35% decline from the Rs 5,412 crore reported in Q1FY23, while the EBITDA margin went from 39% to 32% YoY.

After the commission of the new 1,600 MW Godda Ultra-supercritical Power Plant that supplies power to Bangladesh, the installed capacity of Adani Power grew to 15,250 megawatts (MW) as of June 30, 2023, against the 13,650 MW capacity as of June 30, 2022.

The Adani Group-led Adani Power company achieved an average consolidated Plant Load Factor (PLF) of 60.1% and sales of 17.5 Billion Units (BU) on an installed capacity of 15,250 MW, as compared to a consolidated PLF of 58.6% and a sales volume of 16.3 BU on an installed capacity of 13,650 MW in the quarter ended June 30 2022.

At 12:20 pm, the shares of Adani Power were trading at Rs 279.00 or 1.51% above its previous close of Rs 274.85 on NSE.