Adani Green hits the roof after Q3 operation figures

Adani Green Energy hit an upper circuit limit of 5% at Rs 231.70 after the company disclosed provisional operational update for Q3 December 2019.

The company said its solar portfolio achieved plant availability of 97.3% in Q3 December 2019, compared with 99.6% in Q3 December 2018. Average portfolio plant availability was affected negatively due to water logging as a result of heavy rainfall at 648 MW Kamuthi Solar PV.

Solar operational capacity rose 13.17% to 2148 megawatt (AC) and up 14.88% at 2803 MW (DC).

The company's wind portfolio achieved capacity utilisation factor of 21.5% in Q3 December 2019 versus 8.33% in in Q3 December 2018.

The wind portfolio achieved plant availability of 90.4% in Q3 December 2019, compared with 73.6% in Q3 December 2018.

Shares of Adani Green Energy have surged 53% in nine sessions from its recent closing low of Rs 151.05 recorded on 27 December 2019. The stock registered a market capitalisation of Rs 36,238.21 crore.

On a consolidated basis, Adani Green reported a net profit of Rs 100.25 crore in Q2 September 2019 compared with net loss of Rs 187.97 crore in Q2 September 2018. Net sales surged 51.1% to Rs 674.78 crore in Q2 September 2019 over Q2 September 2018.

Adani Green Energy builds and operates solar and wind energy power plants in India.

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