Adani Green shares surge 4% after Q3 PAT jumps 85% YoY to Rs 474 crore

Adani Green Energy shares surged 4% to a day's high of Rs 1,061.65 on the BSE on Friday, January 24, after the company reported an 85% year-on-year (YoY) increase in its December quarter consolidated net profit to Rs 474 crore, compared to Rs 256 crore in the same period last year.

The revenue from operations in the quarter stood at Rs 2,365 crore, up by 2.3% over Rs 2,311 posted in the corresponding quarter of the previous financial year.

On a sequential basis, the profit after tax (PAT) was down by 8% versus Rs 515 crore reported in Q2FY25. Meanwhile, the topline fell 23% on a sequential basis versus Rs 3,055 crore reported in the July-September quarter of FY25.


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The company's power supply revenue stood at Rs 1,993 crore in the reported quarter while that from the sale of goods/equipment and related services stood at Rs 293 crore.

The other revenue from operations stood at Rs 265 crore. This includes income from Viability Gap Funding and Change in Law, Income from Carbon Credit (net), Generation-based incentives and Income from Project Management Consultancy services.

Adani Green's EBITDA or earnings before interest, taxes, depreciation and amortisation (EBITDA) from power supply stood at Rs 1,848 crore, up 13% over Rs 1,638 crore reported in the year-ago period. It was 91.4% in Q3FY25 versus 91.5% in Q3FY24.

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Commenting on the company's progress on its renewable energy plant in Gujarat's Khavda, CEO Amit Singh said, “We are steadily developing the world’s largest RE plant in Khavda, Gujarat, as well as large-scale plants in Rajasthan and other sites, supported by well-aligned transmission planning. We have upgraded our supply chain to meet current and future regulatory compliances. Recently, we made significant progress in building the PPA pipeline by participating in various tenders,” Singh said.

“Our updated strategy now includes largescale deployment of Battery Energy Storage Systems (BESS), given significant cost declines in the last few quarters. BESS can be deployed relatively quickly and will be crucial in grid integration, supporting rapid renewable growth and complementing our existing solar, wind and hydro-pumped storage projects. We continue to ensure that the financing tie-up is completed well in advance for all our projects backed by a robust capital management program with a ..

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Adani Green Energy shares target price

As per Trendlyne data, the average target price of the stock is Rs 1,966, which shows an upside potential of 91% from the current market prices. The consensus recommendation from 4 analysts for the stock is a 'Buy'.

Adani Green Energy's stock performance

On Thursday, Adani Green Energy shares closed at Rs 1,021.4, down 0.8% on the BSE, while the benchmark Sensex surged 0.15%. The stock has declined 40% over the past three months and 47% in the last two years. The company’s market capitalization stands at Rs 1,61,801 crore.

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