 "Adani Enterprises gains 5% on strong Q1 results")
Adani Enterprises has rallied 5% to Rs 475 in early morning deals on National Stock Exchange (NSE) after reporting a consolidated net profit at Rs 557 crore for the quarter ended June 30, 2014 (Q1FY15), on back of higher sales volume in power business. The company had a net loss of Rs 278 crore in the same quarter previous fiscal.
he flagship company of the Adani Group saw its consolidated total income grow by 41% at Rs 16,672 crore for Q1 of FY ‘15 as compared to Rs 11,836 crore of corresponding quarter last fiscal.
Consolidated EBIDTA or operating profit for Q1FY15 increased by 62% to Rs 3,275 crore vs Rs 2,017 crore in Q1FY14.
Meanwhile, the media report suggests that the promoters of Adani Group plan to sell their Abbot Point coal terminal in Australia at close to the acquisition price of $2 billion.
The stock opened at Rs 477 and touched a high of Rs 478 on NSE. A combined 324,000 shares changed hands on the counter so far on NSE and BSE.
he flagship company of the Adani Group saw its consolidated total income grow by 41% at Rs 16,672 crore for Q1 of FY ‘15 as compared to Rs 11,836 crore of corresponding quarter last fiscal.
Consolidated EBIDTA or operating profit for Q1FY15 increased by 62% to Rs 3,275 crore vs Rs 2,017 crore in Q1FY14.
Meanwhile, the media report suggests that the promoters of Adani Group plan to sell their Abbot Point coal terminal in Australia at close to the acquisition price of $2 billion.
The stock opened at Rs 477 and touched a high of Rs 478 on NSE. A combined 324,000 shares changed hands on the counter so far on NSE and BSE.