- Adani Enterprises Ltd. reported a 50.5% decline in net profit for the quarter ending on September 30, with net profit at Rs 227.82 crore, compared to Rs 460.94 crore in the same quarter last year.
- The decline in net profit was more pronounced when compared to the previous quarter, with a 66.1% decrease from Rs 673.93 crore.
- The company’s revenue from operations in the quarter dropped by 41% to Rs 22,517.33 crore, down from Rs 38,175.23 crore in the same quarter last year, and also lower than the previous quarter’s revenue of Rs 25,438.45 crore.
- EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 39% to Rs 2,979 crore due to the strength of incubating businesses.
- In the first half of FY24, the company’s EBITDA showed significant growth of 43% to Rs 5,874 crore, indicating a more positive performance over a longer time frame. Adani Enterprises is optimistic about its incubating ventures and their contributions to future growth.