Adani Enterprise Q3 profit: The consolidated EBIDTA for the first nine months of FY24 increased by 58% to ₹9,592 crore. Adani Enterprises’ shares, which have risen over 50% in the last year, were trading 0.60% higher Wednesday.
Adani Enterprises Ltd, Adani Group’s flagship company, posted a consolidated net profit of ₹1,888.45 crore for the December quarter, up from ₹820 crore the previous year. Revenue from operations increased by 6.5% to ₹28,336 crore from ₹26,612 crore last year.
EBITDA (earnings before interest, tax, depreciation, and amortisation) increased 98% YoY to ₹3,227.7 crore. The EBITDA margins increased to 11.4%. The consolidated EBIDTA for the first nine months of FY24 increased by 58% to ₹9,592 crore.
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The rising core infra businesses in Adani Enterprises’ incubation pipeline have demonstrated good operational performance and continually contributed significantly to the company’s growth trajectory in the last nine months of the fiscal year, according to a statement. The company’s incubating businesses, which include the green hydrogen ecosystem, airports, and roadways, account for 45% of its entire EBITDA. “Adani Enterprises has had a robust third quarter, with two of our major incubating businesses picking up momentum,” said Gautam Adani, Chairman of the Adani Group.
“Our ongoing commitment to enhancing customer satisfaction and redefining the overall consumer experience at our airports remains steadfast. We are also pleased with the pace of our advance in establishing a fully integrated manufacturing chain for green hydrogen production. This fully integrated approach will provide us with a tremendous advantage in end-to-end planning, granting us superior control over the final product and its cost. The scale of opportunities these businesses present is not only unprecedented but also allows us to strongly position ourselves as a leading source of clean, sustainable, and affordable alternative energy,” Adani said.
In the September quarter, Adani Enterprises reported a 51% decrease in consolidated net profit to ₹227.82 crore and a 41% decrease in sales to ₹22,517.30 crore. Adani Enterprises Ltd. shares increased 0.60% to ₹3,161 on the NSE today. The stock has climbed 8% this year and over 50% over the last year.
FAQs
What is the share price of Adani Infrastructure?
Adani Enterprises is trading at 3088.85 as of Wednesday, January 31, 2024, 05:24:18. This is -0.09% lower than the previous closing price of 3091.55.
How many companies Adani own?
Adani Group is an Indian conglomerate that owns ten publicly traded companies. It has developed a world-class transport and utility infrastructure portfolio with a pan-India footprint. Adani Group is headquartered in Ahmedabad, Gujarat, India.
Which cement company Adani owns?
Ambuja Cements, an Adani group firm, has told Indian stock exchanges that it has established three completely owned subsidiaries: LOTIS IFSC Private Limited, Ambuja Concrete North Private Limited, and Ambuja Concrete West Private Limited.
Who is richest Adani or Ambani?
Gautam Adani is now India’s richest person, surpassing Mukesh Ambani after a $7.7 billion increase in fortunes in a single day! Billionaire Gautam Adani has surpassed Mukesh Ambani to become the richest Indian and the world’s 12th most valuable person, according to the most recent Bloomberg Billionaire Index update.
Who is the CEO of Adani Enterprises?
Vinay Prakash, Ph.D. in Mining, is a well-known leader in the fields of energy, infrastructure, metals, and minerals. He has developed the Adani Group’s Natural Resources division since its start, steering its diversification both in India and beyond.
What is the biggest business of Adani?
Gautam Adani founded the Group in 1988 as a commodity trading company. Its industries include marine and airport management, energy generation and transmission, mining, natural gas, food, and infrastructure. More than 60% of the Adani Group’s revenue comes from coal-related operations.
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