Adani stocks in focus amid Q4 results; Adani Green soars 5%, NDTV tanks 5%

Adani Total Gas and Ambuja Cements are scheduled to announce their Q4FY23 results today. Adani Wilmar will announce its Q4FY23 numbers on May 3; Adani Enterprises on May 4; and Adani Power on May 5

Shares of Adani Green Energy were locked in the 5-per cent upper circuit, at Rs 998, on the BSE in Tuesday's intra-day deal after the Adani group company's net profit zoomed 142 per cent on year in the March quarter of FY23 (Q4FY23). By comparison, the benchmark S&P BSE Sensex was up 0.42 per cent at 9:20 AM.

The renewable power major, on Monday, reported a 142 per cent rise in net profit to Rs 1,365 crore in Q4FY23 on a YoY basis. Its revenues were up by 89 per cent to Rs 2,130 crore in the same quarter.

The company said its sale of energy has increased by 58 per cent to 14,880 million units in FY23 mainly due to strong capacity addition, analytics driven O&M enabling high plant availability and deployment of latest renewable technologies.

 

AGEL has added an additional 2,676 MW renewable capacity to its operational fleet in FY23, which includes 2,140 MW solar-wind hybrid plants in Rajasthan, 325 MW wind power plant in Madhya Pradesh and 212 MW solar power plants in Rajasthan. READ MORE

"We are leaders in the green energy space and have consistently set new industry standards in efficiency, performance and capacity development. We are expediting the transition to sustainable energy and playing a pivotal role in fulfilling India’s obligations to a greener future,"tGautam Adani, Chairman, Adani Group said.

On the flipside, shares of NDTV, the recent addition to Adani Group, slumped 4.6 per cent to Rs 180.6 apiece on the BSE In Tuesday's intra-day trade as the broadcaster's net profit plunged nearly 98 per cent year-on-year (YoY) to Rs 59 lakh. Last year, the company's net profit was Rs 24.16 crore. 

Revenue from operations fell 35.5 pe cent to Rs 66.96 crore due to a "slowdown in global advertisement spend," the media company said. Total expenses rose 5.9 per cent, driven by production and services costs.

Two other Adani group companies -- Adani Total Gas and Ambuja Cements -- are scheduled to announce their Q4FY23 results later today. Adani Wilmar will announce its Q4FY23 numbers on May 3 (Wednesday); Adani Enterprises on May 4 (Thursday); and Adani Power on May 5 (Friday).