Premier Energies shares rose in Friday trading following a robust quarterly report, with net profit soaring 50.4% and revenue increasing by 35.3%, signalling continued investor confidence amid strong operational performance.
Premier Energies rose in Friday’s trade after the solar module maker reported a sharp increase in quarterly profit and stronger revenue for the June quarter. The stock was last up 0.33% at ₹1,048.50 on the Bombay Stock Exchange, with an intraday range of ₹1,022.30 to ₹1,062.25 and a market capitalisation of ₹47,596.82 crore, according to Goodreturns. The move came after investors digested results that showed profit and sales growth across the business.
The company reported net profit of ₹463.1 crore for the quarter, up 50.4% from a year earlier, while revenue from operations climbed 35.3% to ₹2,462.6 crore, Goodreturns said. EBITDA, or earnings before interest, taxes, depreciation and amortisation, increased 30.3% to ₹714.4 crore, although the margin eased to 29% from 30.1% in the same period a year earlier.
Brokerage Motilal Oswal kept a Buy rating on the stock, saying the company had delivered ahead of expectations. Goodreturns reported that revenue was about 6% above Motilal Oswal’s estimate and EBITDA came in 13% better, helped by lower-than-expected interest costs, a strong order book and improved performance in the power transmission and distribution business. The brokerage did not publish a target price ahead of a management call scheduled for Friday morning.
Business Standard and Livemint both showed a more mixed set of quarterly numbers, with each outlet reporting different June-quarter figures for profit and revenue. But both accounts pointed to solid year-on-year growth and stronger operating performance, reinforcing the view that Premier Energies remains on a favourable trajectory even after the stock’s sharp run-up. Goodreturns noted the shares had gained about 3% over two weeks and roughly 32% in six months, after touching a 52-week high of ₹1,134 on July 10.
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