AGL Energy Ltd. shares jumped the most in six months as Australia’s largest power producer’s batteries helped offset declining wholesale electricity prices. Shares rose as much as 6.1%, the biggest move since Feb. 11, narrowing this year’s decline.

The company said on Wednesday that its underlying profit after tax fell 1.7%, to A$631 million in the year through June 30. It forecast a fiscal‑year profit between A$470 million and A$670 million.

The battery performance has bolstered investor confidence, lifting the stock despite a broader market downturn. AGL’s role as a major Australian generator positions it well for future renewable integration.

Analysts note that the strong battery portfolio may continue to shield earnings from volatile wholesale prices, supporting a gradual recovery in the company’s shares.