Adani Power Q3 profit tanks

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⭐ Adani Power Q3 profit tanks 

In the December quarter, Adani Power’s net profit declined by 96% YoY to ₹8.7 crore. In the same period, company's consolidated revenue rose by 44.8% to ₹7,764 crore driven by increased operating capacity and improved tariff realisation.      

⭐Techno Electric disposes of wind power assets

Techno Electric & Engineering, which provides EPC services to the power sector, has sold off 37.5 MW of its wind power assets in Tamil Nadu for ₹158 crore and has entered into an agreement to sell  another 71.40 MW. As per management, it plans to exit the wind energy business and invest in future growth plans,  including expanding its presence in the international market.  

⭐ Trent reports healthy growth 

Retail company Trent reported a 21% YoY rise in net profit to ₹160 crore for the three-month period ended 31 December 2023. Furthermore, the company’s standalone revenue rose by 62% YoY to ₹2,244 crore.

Global markets (at 9:15 AM today)

Fact of the day

In January 2023, domestic fuel consumption rose by 3.3% YoY to 18.7 million tonnes. 

Source: Economic Times