Shares of Adani Enterprises Ltd jumped more than 4 per cent on Wednesday after the firm posted nearly an eight-fold rise in net profit in the September quarter.
Shares of Adani Enterprises Ltd jumped more than 4 per cent on Wednesday after the firm posted nearly an eight-fold rise in net profit in the September quarter.
Shares of Adani Enterprises Ltd jumped more than 4 per cent on Wednesday after the firm posted nearly an eight-fold rise in net profit in the September quarter.
The stock climbed 4.44 per cent to settle at Rs 2,967.65 apiece on the BSE. During the day, it soared 5.50 per cent to Rs 2,998.
On the NSE, it surged 3.73 per cent to Rs 2,955 per share.
The company's market valuation went up by Rs 18,594.83 crore to Rs 3,42,520.44 crore.
Adani Enterprises Ltd -- the flagship firm of billionaire Gautam Adani's conglomerate -- on Tuesday posted nearly an eight-fold rise in net profit in the September quarter on strong earnings from airports and new energy units that offset the drag from the coal trading business.
Net profit of Rs 1,741 crore in July-September -- the second quarter of current 2024-25 fiscal year -- was up 663 per cent over Rs 228 crore earning in the same period of last year, a company statement said.
EBITDA (earnings before interest, taxes, depreciation and amortization) was up 46 per cent at Rs 4,354 crore, while revenue rose 15 per cent to Rs 23,196 crore.
Except for the coal business, the firm's other main businesses saw growth in both top and bottom line.