Adani Power Second-Quarter Profit Soars On Demand Surge, Tax Gain

Shares of Adani Power, part of billionaire Gautam Adani's eponymous conglomerate, jumped as much as 7.7% to 393.4 rupees after the results. They had climbed 51% from July to September.

The thermal power producer Adani Power reported a near ten-fold surge in second-quarter profit on Thursday, as it benefited from soaring power demand and a tax gain.

Shares of Adani Power, part of billionaire Gautam Adani's eponymous conglomerate, jumped as much as 7.7% to 393.4 rupees after the results. They had climbed 51% from July to September.

The company's consolidated net profit climbed to 65.94 billion rupees ($792.3 million) in the quarter, helped in part by a tax gain of 13.71 billion rupees.