Adani Power surges nearly 5% after reporting record net profit in the March quarter.

Adani Power’s stock rose about 5% on Thursday after the company’s consolidated net profit increased to 4,645.47 crore in the March quarter.

On the BSE, the stock rose 4.40 percent to settle at 277.90 per share. It rose 4.99 percent to 279.50 during the day.

On the NSE, it increased by 4.99 percent to 279.65 per share.

During the day, 31.93 lakh shares were traded on the BSE, and nearly 3.98 crore shares were traded on the NSE.

Adani Power’s overall net profit increased to 4,645.47 crore in the March quarter from 13.13 crore the previous quarter, owing to greater revenues.

The company’s total income increased to 13,307.92 crore in the quarter ending March 31, 2022 from 6,902.01 crore the previous year, according to a statement released on Thursday.

The consolidated net profit for the fiscal year 2021-22 increased to 4,911.58 crore from 1,269.98 crore the previous year.

The company’s total income grew to 31,686.47 crore last fiscal year, up from 28,149.68 crore the previous year.