Adani Green Energy fell to a day’s low of Rs 1,464.70 on the NSE on Wednesday, even as it posted a healthy rise in Q1 profit.

Consolidated net profit rose 19.3% year on year to Rs 983 crore, up from Rs 824 crore in the same quarter last year. Revenue climbed 16.6% to Rs 4,431 crore, against Rs 3,800 crore a year earlier.

Operating profit grew even faster. EBITDA rose to Rs 3,985 crore from Rs 3,042 crore, and the operating margin expanded sharply to 90% from 80% a year ago.

Growth was driven largely by new capacity coming online. The company’s operational renewable generation capacity grew 27% year on year to 20,142 MW, up from 15.8 GW a year earlier, with 4,327 MW of fresh greenfield capacity added over the year.

It commissioned 4,800 MW of renewable projects during the quarter, though only 848 MW was added to operational capacity in that period, with the rest still awaiting transmission connectivity before shifting to long-term power contracts.

Energy sales rose 30% to 13,657 million units, helped by this capacity growth. Revenue from the power supply business, the company’s biggest segment, jumped 29% to Rs 4,280 crore, with EBITDA from that segment up 33% to Rs 4,122 crore.

Adani Green is targeting 50 GW of capacity by 2030. Its battery storage capacity stood at 3.5 GWh as of this quarter, which the company plans to grow to over 10 GWh by the end of FY27.

CEO Ashish Khanna said the company began the year with ‘strong momentum’, crossing the 20 GW mark even as demand for power picked up across India.

At market close on 22 July, Adani Green shares settled at Rs 1,472.30 on the NSE, down 4.51% from the previous close of Rs 1,541.90.

The stock is up 43% for the year so far, though it remains below its 52-week high of Rs 1,631.50, touched earlier this month, and well above its 52-week low of Rs 765 hit in January.

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