Synopsis:
Energy Development Company Ltd shares jumped 14% as Q2 revenue doubled to ₹20.7 Cr and net profit surged to ₹10.6 Cr.
The shares of the Penny stock company specializing in renewable power generation and providing a wide range of consultancy and infrastructure development services for energy projects, jumped upto 14 percent following their Q2 results with a 542 percent rise in profit QoQ.
With a market capitalization of 102.93 Crores on Monday, the shares of Energy Development Company Ltd jumped upto 13.7 percent, reaching a high of Rs. 21.81 compared to its previous close of Rs. 19.18.
What Happened
Energy Development Company Ltd, engaged in renewable power generation and providing a wide range of consultancy and infrastructure development services for energy projects, has announced its Q2 results as follows:
Its Revenue from operations rose by 37 percent YoY from Rs. 15.1 Crores in Q2FY25 to Rs. 20.7 Crores in Q2FY26, and it rose by 101 percent QoQ from Rs. 10.3 Crores in Q1FY26 to Rs. 20.7 Crores in Q2FY26.
Its Net Profit YoY rose by 62 percent from Rs. 6.55 Crores in Q2FY25 to Rs. 10.6 Crores in Q2FY26, and in QoQ it rose by 542 percent from Rs. 1.65 Crores in Q1FY26 to Rs. 10.6 Crores in Q2FY26. The earnings per share (EPS) for the quarterly period stood at Rs. 2.23, compared to Rs. 0.35 in the previous quarter.
Company Overview & Others
Energy Development Company Ltd (EDCL) was incorporated in 1995 to develop renewable energy in India. The company generates clean electricity from hydro and wind power and also develops energy and infrastructure projects for other developers.
Its main business segments are power generation, consultancy, and contracting services, which include the development, construction, and maintenance of projects like hydro power plants and bridges.
The Company simultaneously generates clean, green electricity from water and wind in its own power plants as well as develops energy and infrastructure projects for other developers.
The company currently has 19 MW of renewable energy capacity and has 291 MW of hydroelectric projects at various stages of development. The Company has targets to develop and own around 500 MW of new Hydro Electric Power Projects at an approximate capital outlay of Rs. 7000-8000 crores in the next 5-7 years.
Written by Sridhar J
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