RTTNews | Aug 31, 2021 11:59AM EDT

11:59 Tuesday, August 31, 2021 (RTTNews.com) - Indian renewable energy company Azure Power Global Limited (AZRE) is trading 17% higher in the Tuesday market after reporting a surge in profit for the first quarter. Azure reported a net income of INR697 million or INR14.18 per share compared to INR46 million or INR0.80 per share in the same quarter last year. The increase was chiefly boosted by an INR500 million increase in operating revenue. The revenue reported by the company was INR4.44 billion compared to INR3.94 billion in the previous year. The revenue increased due to a 23% uptick in operating Megawatts to 2,052 MW year-over-year. For the entire year, the company expects a revenue in the range of INR17.90 billion and INR18.90 billion while for the next quarter, the projected revenue is in the range of INR3.60 billion and INR3.80 billion. Currently, the shares are trading at $22.77, up $3.25 or 16.65% since their previous close at $19.52. In the morning the shares opened at $21.07 and in the 52-week period, the shares have ranged between $18.19 and $53.60.

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