Adani Ent Shares Hit 52-Week High As Profits Soar 130% In Q3

Adani Enterprises’ share price bumped up sharply on Thursday afternoon as the company posted its results for the December quarter.

What Happened: The Adani Group‘s flagship company’s net profit for the quarter ended December came in at ₹1,888.45 crore, up 130% from the ₹820 crore profits posted in the same quarter last year.

The company’s revenue from operations was at ₹28,336 crore up 6.4% from the ₹26,612 crore revenue booked in the same quarter last year. EBITDA for the quarter came in at ₹3,717 crore, up 89% from the 1,968 crore EBITDA posted in the year-ago period.

See Also: Adani Stock Hits All-Time High As Profits Surged 67% In Q3

“Adani Enterprises has had a robust third quarter, with two of our major incubating businesses picking up momentum," said Gautam Adani, chairman of the Adani Group.

Shares of the company that were in the red jumped up sharply as soon as the announcement was made at around 2:11 pm. Shares of the company jumped up over 3% to hit an intraday high of ₹3,175.70.

Price Action: Adani Ent’s share price was up 1.07% to trade at ₹3,175.70 in the late hours of trading on Thursday.

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