This Adani Stock Jumps As Profits Soar 47% In Q2

Shares of Adani Energy Solutions (formerly known as Adani Transmission) saw its shares continuing to make gains for the fourth straight session on Tuesday morning.

What Happened: The Adani Group company posted its results for the quarter in the after-market hours of trading on Tuesday. The company reported a consolidated net profit of ₹284 crore, marking a 47% increase compared to the ₹194 crore recorded in the year-ago period. The company’s revenue for the July-September period reached ₹3,421 crore, reflecting a 13% growth from the ₹3,032 crore reported in the same period of the previous year.

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EBITDA for the quarter came in at ₹1,443 crore, representing a 6% increase compared to ₹1,362 crore in the same period last year. EBITDA margin was at 47%. Basic earnings per share for the quarter was at ₹2.47.

As of September 30, the company reported a consolidated net debt of ₹29,000 crore. Net debt to EBITDA stands at 3.8x as of September 2023.

Price Action: Adani Energy Soultuions’ share price was up 1.51% to trade at ₹783.50 as the market opened on Tuesday.

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