Adani Enterprises continued to make gains on Friday after the company reported its earnings for the March quarter.
What Happened: The Adani Group‘s flagship company Adani Enterprises saw consolidated revenue from operations go up 26% year-over-year to ₹31,346.05 crore. The company attributed the strong rise to the performance of its Integrated Resources Management (IRM) and Airport business.
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Revenues from the IRM business grew over 4% to ₹18,596.67 crore from the ₹17,857.07 crore revenue it booked in the year-ago period. Airports business revenue grew over 45% YoY to ₹1,696.81 crore. The company’s mining business more than doubled to ₹2,688.34 crore in the quarter ended March.
The company’s EBITDA for the review period grew EBIDTA 157% to Rs. 3,957. PAT for the March quarter went up 137% YoY to ₹722.48 crore. Earnings per share for the quarter stood at ₹6.34. The company also declared a dividend of ₹1.20/share.
The company’s board also approved the reappointment of Gautam Adani as an Executive Chairman of the Company for a further period of five years w.e.f. December 1, 2023, as the present term expires on 30th November 30, 2023.
Price Action: Adani Enterprises’ share price was up 1.10% to trade at ₹1,932.20 as the markets opened on Friday.
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