Stock Market update: Adani Green Energy Ltd shares up by 4.52% post provisional update on Q3 earnings

The company’s sale of energy expanded by 97% on yearly basis at 2,504 million units in Quater 3 financial year 22 as compared to 1,273 million units in Q3 financial year 21.

Adani Green Energy Ltd shares hopped to 4.52 per cent at INR 1,504.00 apiece today at 2.27 IST on the NSE in Tuesday’s afternoon deals after the company issued a provisional operational update for the third quarter Q3. The company’s total operational capacity expanded by 84% year-on-year (YoY) to 5,410 MW

The standalone quarterly results of the company displayed that the company’s total income from operation was Rs 4,848 crores in September 2021 compared to Rs 1,446 crores in June 2021 on the other hand the consolidated data showed the total income of Sept 2021 at Rs 1,295 crore compared to Rs 997 crores in June 2021.

The company’s sale of energy expanded by 97% on yearly basis at 2,504 million units in Quater 3 financial year 22 as compared to 1,273 million units in Quater 3 financial year 21.

“By 2030, we expect to be the world’s largest renewable energy company without any caveat — and we have committed USD 70 billion over the next decade to make this happen. There is no other company that has yet made such a large bet on developing its sustainability infrastructure,” Adani had said.

Meanwhile, The Adani Group was backed by around 97% plant availability and the firm’s wind portfolio CUF reached 18.6% with 10 base points (bps) progress during the third quarter. Adani Green’s Solar portfolio CUF stood at 21.9% with a 110 bps gain backed by around 100% plant availability. The operational performance does not refer to the performance of 150 MW operational wind assets under acquisition from Inox, the company clarified.

Adani Green Energy Limited is an Indian renewable energy company headquartered in Ahmedabad, Gujarat. The flagship of the company is the Indian conglomerate Adani Group. The company operates the Kamuthi Solar Power Project, one of the largest solar photovoltaic plants in the world.

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