 "Adani Group (Photo: Bloomberg)")
Adani Enterprises Limited on Thursday reported a 37.63 per cent year-on-year drop in consolidated net profit at Rs 450.58 crore for the quarter that ended on March 31 in financial year 2023-24 (Q4FY24). The company had reported a net profit of Rs 722.48 crore during the same period last year (Q4FY23).
Sequentially, the net profit went down 76.14 per cent from Rs 1,888.45 crore in the last quarter.
The company's revenue from operations increased by 0.81 per cent to Rs 29,180.02 crore in Q4, compared to Rs 28,943.84 crore reported in the year before. On a quarter-on-quarter basis, the revenue for operations stood at Rs 25,050.23 crore.
The company reported a total income of Rs 29,630.29 crore for Q4FY24. This was an increase of 1.08 per cent from Rs 29,311.42 crore reported during the year-ago period.
On a quarter-on-quarter basis, the total income was up 16.01 per cent. It was Rs 25,540.35 crore in Q3FY24.
Gautam Adani, chairman of the Adani Group, said, "Adani Enterprises has once again validated its position not only as the premier business incubator in India but also as a global leader in infrastructure development. AEL’s resilient growth model of incubation confirms the operational and organisational excellence. This is supported by high ratings and fully funded growth. Our commitment to excellence in project management and operations continues to set global benchmarks, ensuring sustainable long-term value creation for our stakeholders. We remain dedicated to corporate governance, meticulous compliance, robust performance and effective capital flow management."
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For the entire financial year, the company reported a rise in net profit by 31.04 per cent at Rs 3,240.78 crore, compared to Rs 2,472.94 crore reported at the end of FY23.
The company's revenue from operations for FY24 dropped by 24.39 per cent at Rs 96,420.98 crore, compared to Rs 127,539.50 crore in the previous financial year.
The company's total income decreased by 23.65 per cent at Rs 98,281.51 crore in FY24, compared to Rs 128,734.09 crore reported in FY23.
The company announced an interim dividend of Rs 1.3 per share.
On Thursday, the stock price of Adani Enterprises Ltd closed at Rs 3,029.
