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Power company Adani Power published the results for the quarter ended in March 2022 as profits reached Rs 4645 crores, growing a whopping 357.3x times in a year!
The consolidated total revenue of the company surged 93% YoY from Rs 6,902 crores to Rs 13,308 crores this quarter. The company's performance has been exceptional compared to the corresponding quarter last year as its EBITDA grew 271% YoY to Rs 7,942 crores.
For the year ended on 31st March 2022, the company's total revenues grew 13% YoY from Rs 28,150 crores last year to 31,686 crores this year. This year's revenue figures were inclusive of Rs 5,800 crores of prior period income and other income.
Its annual EBITDA was Rs 13,789 crores, up 30%. Profit for the year stood at Rs 4,912 crores, up 286% from Rs 1,270 crores last year.
Kotak Mahindra Bank posts Q4 results, read more.
Commenting on the quarterly results of the company, Mr. Gautam Adani, Chairman, Adani Group said, “Availability of reliable power supply to various sectors across the nation is critical to India's economic growth. The Adani Group stands committed to fulfilling India's energy needs in a sustainable, reliable, and affordable manner.
Our diversified presence across the energy value chain helps us ensure that this vital input is always available to power the economy, even during times of global volatility, and helps advance the vision of progress and prosperity for all.”.
2022 has been a very good year for the stock as it has seen significant upward movement in the last 4 months. The stock opened at Rs 100.15 per share on the first trading day of the year and closed at Rs 292.05 per share, giving a 192% gain this year alone.
The stock had fallen over 4% today but managed to turn around in the latter half and ended 5% higher than yesterday's close.
Article by Aman Agarwal.
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