Adani Enterprises Q3 Results: Adani Enterprises, the flagship company of Adani Group, has announced its third-quarter results. The company has made huge profits in the third quarter of the current financial year.
Adani Enterprises said on Thursday that the October-December profit of the current financial year has jumped more than two times to Rs 1888.4 crore. The company had earned a profit of Rs 820 crore in the same quarter a year ago.
Adani Enterprises’ revenue increased
The company’s revenue from operations increased by 6.5 percent year-on-year to Rs 28,336.4 crore in the December quarter, from Rs 26,612.2 crore in the same quarter of the previous financial year.
The company’s EBITDA almost doubled to Rs 3,227.7 crore in the last quarter, from Rs 1,629.2 crore in the year-ago period. Margin increased to 11.4 percent from 6.1 percent in the same quarter of the last financial year.
What reason for the increase in profits?
The flagship company of the group led by billionaire Gautam Adani said that renewable energy, airport and road businesses had significantly contributed to its strong performance.
Shares closed higher
Shares of Adani Enterprises on Thursday closed at Rs 3152.25 per share, up 0.35 percent by Rs 11.15.
Adani Wilmar’s net profit decreased
The net profit of Adani Group’s FMCG sector company Adani Wilmar has declined by 18 percent year-on-year (YoY) to Rs 200.89 crore in FY24Q3.
The company, which sells goods under the Fortune brand, had reported a net profit of Rs 246.16 crore in the same period last year (FY23Q3).
Adani Total Gas’s profit increased
Adani Total Gas, a subsidiary of Adani Group, has registered a net profit of Rs 176.64 crore in the third quarter of FY24 (FY24Q3), an increase of 18 percent.
In the same period last year (fy23q3), the company had registered a net profit of Rs 150.19 crore. Adani Total Gas is continuously performing better in the current financial year.