Thursday, June 30, 2022
BusinessAdani Enterprises profit up 30% to ₹304 crore in the fourth quarter,...

Adani Enterprises profit up 30% to ₹304 crore in the fourth quarter, announced dividend

Adani Enterprises Ltd’s profit grew 30 percent to Rs 304 crore in the March quarter of FY 2022

Adani Enterprises Ltd, the flagship company of Adani Group, reported a 30 per cent increase in profit at Rs 304 crore in the March quarter of FY 2022.

The company’s profit in the corresponding quarter of the last financial year was Rs 234 crore. The company’s consolidated income increased to Rs 24,866 crore in the March quarter from Rs 13,525 crore in the corresponding quarter of the previous fiscal.

The company’s profit fell to Rs 777 crore during the entire financial year, from Rs 923 crore in the previous financial year. At the same time, its consolidated revenue grew 74.81 percent to Rs 70,432.69 crore. Adani Enterprises has declared a dividend of Re 1 on each share.

Adani Enterprises Chairman Gautam Adani said the road ahead is going to be very interesting for the company as it forays into new businesses such as network airport ecosystem, road and water infrastructure and green data centres.

“In addition, we also have a focus on new energy business and digital consumer platform, which will serve to enhance the value of shareholders in the times to come,” he added.

Adani Enterprises’ EBITDA (earnings before interest tax depreciation and amortization) grew by 45 per cent to Rs 4,726 crore.

Shares of Adani Enterprises closed at Rs 2,335.70, up 0.16 per cent on the NSE on Tuesday. In the last one month, the price of its shares has increased by about 13.06 percent. At the same time, in the last one year, it has given excellent returns of about 85.01 percent to its investors.

Adani Transmission gets approval from Green Transmission Investment to invest ₹3,850 crore.

Meanwhile, Adani Transmission Limited has been approved by its shareholders to issue 1.56 crore shares on a preferential basis to Green Transmission Investment Holdings RSC Limited, valuing approximately Rs 3,850 crore.

Currently, IHC Capital Holding LLC is the major shareholder of Green Transmission Investment Holdings RSC Ltd.

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