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Adani Enterprises Profit Soars 84% on One-Time Gain
21 Nov
Summary
- Adani Enterprises reported an 84% profit jump due to a Rs 3,583 crore one-time gain.
- The company plans to raise Rs 25,000 crore via rights issue for expansion.
- New energy and airport divisions showed significant revenue and profit growth.
Adani Enterprises has reported a significant 84% increase in profit for the July-September quarter, reaching Rs 3,199 crore. This substantial boost was primarily attributed to a one-time gain of Rs 3,583 crore from the divestment of its stake in AWL Agri Business Ltd. Excluding this exceptional income, the company's core earnings experienced a slight decline, influenced by a weaker performance in its primary coal trading operations.
The flagship firm of Adani Group is strategically planning a major expansion, with its board approving a plan to raise Rs 25,000 crore through a rights issue. These funds are earmarked for accelerating growth across its diverse infrastructure portfolio, including ambitious projects in clean energy and airport development.
Performance in key growth sectors remains robust, with the new energy unit, encompassing solar and wind businesses, registering a 3% revenue increase and a 5% rise in pre-tax profit. The airport division demonstrated remarkable momentum, with a 39% surge in revenue and a 43% increase in pre-tax profit, underscoring the group's expanding infrastructure footprint.
