The consolidated net profit of Adani Enterprises Limited for the first quarter of the current financial year (Q1YFY24) saw a rise of 43.55 per cent to Rs 673.93 crore, compared to Rs 469.46 crore for the corresponding quarter of the previous year, the company said in a BSE filing.
Sequentially, the net profit was down 6.71 per cent. In Q4FY23, the net profit of the company was Rs 722.48 crore.
The revenue from operations for Q1FY24 came in at Rs 25,438.45 crore, compared to Rs 40,844.25 crore year-on-year (YoY), which is a fall of 37.71 per cent.
On a quarter-on-quarter (QoQ) basis, the revenue for operations was down 18.84 per cent. It was Rs 31,346.05 crore in Q4FY23.
The total income for Q1FY24 came in at Rs 25,809.94 crore, compared to Rs 41,066.43 crore YoY, dropping 37.15 per cent.
On a QoQ basis, the total income was down 18.62 per cent. It was Rs 31,716.40 crore in Q4FY23.
The company has eight mining service contracts in three states, and two iron ore mine service contracts in two states.
Gautam Adani, chairman of Adani Group, said, "Every quarter, year after year and across three decades, Adani Enterprises has consistently proven its reputation not only as India’s most successful business incubator but also as a global powerhouse in infrastructure development."
At 3:10 pm, the Adani Enterprises Limited stock was trading at Rs 2,524.40.