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The Economic Times
The Economic Times
Veer Sharma

Adani Green shares tumble 5% after Q1 results. Here’s why Bernstein has an Underperform rating

Adani Green Bernstein Adani Green Energy Adani Energy Solutions Khavda

Shares of Adani Green Energy declined as much as 5.3% to their day’s high of Rs 1,394 on the BSE on Thursday despite the company reporting 19% year-on-year (YoY) growth in its consolidated net profit at Rs 845 crore in the first quarter.

Revenue from operations in the reporting period increased 16% YoY to Rs 4,663 crore. Revenue from power supply rose 29% YoY to Rs 4,280 crore from Rs 3,312 crore.

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