India's ACME Solar rises after quarterly profit more than doubles
BUZZ-India's ACME Solar rises after quarterly profit more than doubles ** Shares of India's ACME Solar ACMO.NS rise 3.5% to 425.55 rupees
** Renewable energy producer's September-quarter consolidated profit more than doubled to 2.69 billion rupees ($28.25 million) from 1.15 billion a year ago
** Co's consolidated revenue increased nearly 90% Y/Y, partially driven by capacity addition to its renewable power businesses and battery energy storage system
** Co's unit, ACME Marigold Urja signs power purchase agreement for 400 MW renewable energy project with National Thermal Power Corporation of India** Stock rated "buy" on avg by 14 analysts, with median PT of 440 rupees - data compiled by LSEG
** Stock up 79.50% YTD
($1 = 95.2200 Indian rupees)
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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