Adani Power Profit Doubles on Demand
Adani Power posted a surge in quarterly net profit driven by robust electricity demand and significant one-off gains. Revenue from operations increased significantly during the period, supported by a weak monsoon season.
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Adani Power Ltd posted a net profit of 69.20 billion rupees ($728.9M) on Friday afternoon, up more than 100% year-over-year. The surge followed a weak monsoon season across India that drove a 10% rise in electricity demand. Investors are eyeing state electricity board purchasing trends as high temperatures threaten prolonged supply tightness.
