Adani Enterprises reported a 104 per cent rise in net profit for the quarter ended March 31, 2010 to Rs 339.80 crore as against Rs 166.05 crore in the corresponding quarter a year ago.
Consolidated net sales of the company,however, was down by around 9.5 per cent to Rs 7824.47 crore in the fourth quarter compared to last fiscal's Rs 8654.05 crore. The company's net profit for the 12-month period was Rs 919.30 crore,up 82 per cent as against 504.65 crore in 2008-09. Consolidated net sales for the fiscal stood at Rs 25,873.89 crore down by around 1.17 per cent from Rs 26,181.81 crore of the previous fiscal.
On a standalone basis, Adani Enterprises registered a net profit of Rs 57.30 crore in the fourth quarter, down 58 per cent from Rs 136.71 crore a year ago. The Ahmedabad based company with interests in power,coal mining,oil and gas,real estate, city gas distribution among others, declared a dividend of Re 1 per share of Rs 10 face value.
The company said last week that it plans to raise Rs 4000 crore through the issue of securities in global or domestic markets.
Adani Enterprises, which closed its rights issue last month, saw the promoter family led by Gautam Adani, pouring a total of Rs 1,252 crore into the company.