Adani Enterprises' stock up by 4% after good December quarter performance

14 Feb 2023 , 03:06 AM

Adani Enterprises reported a consolidated net profit of Rs 820 crore for the December quarter, compared to a net loss of Rs11.63 crore the corresponding quarter of the previous year.

Company’s revenue from operations jumped 42% y-o-y to Rs26,612.23 crore.

The company’s consolidated operating profit, calculated as earnings before interest, taxes, depreciation, and amortization (EBITDA), more than doubled year on year to Rs1,968 crore.

Revenue from the integrated resource management business increased 38% year on year to Rs17,595 crore, while revenue from the mining business increased nearly threefold to Rs2,044 crore.

Revenue from the new energy ecosystem business more than doubled to Rs1,427.40 crore. Revenue from airports more than doubled to Rs1,733 crore.

The company’s solar module volume increased by 63% to 430 MW in the new energy vertical. Production volume in the mining industry was 6.2 million tonnes.

Following this development, Adani Enterprises’ stock shot up to 7% to touch an intraday high of Rs1,889 apiece.

At around 3.03 PM, Adani Enterprises was trading 3.45% higher at Rs1,776.95, against its previous close of Rs1,717.65 on NSE.

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