Adani Energy jumps 5% on brokerage upgrades despite profit fall
Adani Energy Solutions's stock jumped nearly 7% intraday on Wednesday, closing up 5% at ₹967.10—even though net profit for the July-September 2026 quarter fell 21% year-on-year to ₹534 crore.
The boost came after major brokerages like ICICI Securities and Jefferies kept 'Buy' ratings, with targets from major brokerages hinting at a possible 19-27% upside.
Revenue up 6.7% to ₹6,596 crore
Despite lower profits, investors are upbeat about Adani Energy's future—thanks to big growth potential in power transmission and smart metering projects.
Revenue actually rose 6.7% to ₹6,596 crore this quarter, showing strong momentum in these segments.
Operational improvements helped push EBITDA up by 28.1%
Operational improvements helped push EBITDA up by 28.1% to ₹2,289 crore compared to last year.
The profit drop was mainly due to higher taxes, missing a one-off tax benefit from before, higher interest/finance charges, and increased depreciation.
Management says they're confident about steady profit growth as new assets come online—fueling investor confidence despite short-term bumps.