Adani Enterprises Q3 Result: Net Profit Doubles by 2X , Revenue Up by 6.5%

Adani Enterprises reported a stellar Q3 FY24 with net profit jumping 2.3x YoY to Rs 1,888.4 crore, exceeding analyst expectations. Revenue from operations also saw a healthy increase of 6.5% YoY to Rs 28,336.4 crore.

Key Highlights:

• Profit surge: Net profit skyrocketed from Rs 820 crore in Q3 FY23 to Rs 1,888.4 crore in Q3 FY24, marking a significant 230% increase.
• Revenue growth: Revenue from operations climbed 6.5% YoY to Rs 28,336.4 crore, indicating steady business momentum.
• Margin improvement: EBITDA nearly doubled to Rs 3,227.7 crore from Rs 1,629.2 crore, leading to a margin expansion from 6.1% to 11.4%.
• Stock price appreciation: Shares of Adani Enterprises responded positively, trading 1.35% higher at Rs 3,183.35 on BSE during late trading hours.

Also Check: Wipro Q3 results 2024 | Net profit falls 12% to Rs 2,694 crore, revenue down 4%

Growth Drivers:

• Strong performance in core businesses: Adani's coal trading and new energy divisions were key contributors to the profit surge.
• Focus on green initiatives: The company's incubating businesses in green hydrogen, airports, and roads, which already contribute 45% to EBITDA, hold immense potential for further growth.
• Favorable industry outlook: Cantor Fitzgerald's report highlighted the attractive risk-reward proposition for investors, citing Adani's strong foothold in key sectors like energy, infrastructure, and data centers.

Also Check: Infosys Q3 FY24 Results: Profit falls 7% YoY to Rs 6,106 crore

Looking Ahead:

Adani Enterprises is well-positioned to capitalize on growth opportunities in India's booming infrastructure and energy sectors. Its focus on clean energy solutions and strategic expansion plans bode well for the future. The strong Q3 performance reaffirms investor confidence and sets the stage for continued momentum in the coming quarters.

Also Read: Supreme Court Clears Adani Group in Hindenburg Case: No SIT Probe, SEBI Investigation Upheld