Adani Enterprises Stock Jumps Nearly 5% After Strong Q4 Numbers

Shares of Adani Enterprises Ltd, the flagship company of billionaire Gautam Adani’s ports-to-energy group, on Thursday jumped nearly 5 per cent after the firm reported more than doubling of net profit in the March quarter on the back of healthy growth in airports and road businesses.

Stock of the firm climbed 3.85 per cent to settle at Rs 1,909.30 apiece on the BSE. During the day, it advanced 5.24 per cent to Rs 1,935.

On the NSE, it soared 4.67 per cent to end at Rs 1,925 each share.

The company’s market valuation zoomed Rs 8,065.51 crore to Rs 2,17,660.41 crore. In volume terms, 2.94 lakh shares of the firm were traded on the BSE and over 48.42 lakh shares on the NSE during the day.

Net profit in January-March at Rs 722.48 crore, or Rs 6.34 per share, was 137 per cent higher than Rs 304.32 crore, or Rs 2.77 a share, in the same period last year, according to a stock exchange filing by the company.

Adani Enterprises Ltd saw revenue soaring to Rs 31,716.40 crore in the fourth quarter of the 2022-23 fiscal from Rs 25,141.56 crore a year back.

For the full 2022-23 fiscal year (April 2022 to March 2023), profit jumped 218 per cent to Rs 2,473 crore while total income rose 96 per cent to Rs 1,38,175 crore. EBITDA more than doubled to Rs 10,025 crore on the back of growth in incubating businesses – airports and roads apart from growth in integrated resource management (IRM) business in line with revenue.

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