Adani Energy Solutions Ltd shares hit a day high of Rs 1,336.80 on 22 October after Q2 profit jumped 148% to Rs 1,323 crore.

The Adani Group firm told exchanges that consolidated net profit for the July to September quarter came in at Rs 1,323 crore, up about 148% from Rs 534 crore a year earlier.

The board approved the unaudited numbers on Thursday. The figures cover the company and its subsidiaries together. Revenue from operations rose 52.7% to Rs 10,075.5 crore from Rs 6,596 crore.

EBITDA, which shows what a business earns from its day-to-day work before interest, tax and similar costs, climbed 35.5% to Rs 3,101.5 crore from Rs 2,289 crore.

So sales outpaced operating earnings. That showed up in margins. The EBITDA margin, the share of each rupee of revenue left as operating earnings, slipped to 30.8% from 34.7%.

A tax write-back of Rs 1,581 crore also supported the profit figure. A write-back means the company reversed tax it had set aside earlier.

Compared with the April to June quarter, profit rose about 15% from Rs 1,149 crore. Revenue grew about 4% from Rs 9,711 crore.

The company mainly runs power transmission lines and sells electricity to homes and businesses.

Its network stretches across about 30,000 circuit kilometres in several states.

Adani Energy Solutions closed at Rs 1,295.40 on NSE, down by Rs 28.60 or 2.16% from the previous close of Rs 1,324.00.

The stock lost 4.34% over the past week and is well below its 52-week high of Rs 1,789.00, hit on 21 July.

It’s down about 6.25% over one month but up 23.80% so far this year, and its market capitalisation is around Rs 1.58 lakh crore.

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