Adani Enterprises has plunged 8% to Rs 422 after reporting single digit 9% year-on-year (y-o-y) growth in consolidated net profit to Rs 553 crore despite a 75% jump in net sales to Rs 10,084 crore.
Higher raw material costs, rising interest burden and lower income from other sources impacted the bottom-line of the company during the recently concluded quarter. Operating profit margins (OPM) declined by 100 basis points (bps) to 15% and the net profit margins (NPM) by 300 bps to 7% in the quarter under review.
The stock opened at Rs 459 and hit a 52-week low of Rs 415 on the National Stock Exchange. A total of 634,119 shares changed hands on the counter till 1100 hours on both the exchanges.
