Adani Ports: Adani Ports’ earnings increased by 65 percent in three months, share price jumped by 5%
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Adani Ports Share Price: Indian industrialist Gautam Adani (Gautam Adani)’s Adani Enterprises Limited and Adani Ports and Special Economic Zone (APSEZ) has made tremendous earnings in the December quarter. Adani Ports’ income fell by 65 percent in three months, while Adani Enterprises Limited (Adani Enterprises Ltd)’s earnings have increased two times. Its effect is visible on the company’s shares today. Adani Ports shares have seen a rise of about five percent. At 10 am, APSEZ shares were trading at Rs 1285.40 with a rise of 5 percent i.e. Rs 61. Whereas, at 11 am, it was trading at Rs 1,269.30 with a rise of 4.14 percent i.e. Rs 50.45. At the same time, the shares of Adani Enterprises were trading at Rs 3180 with a rise of 0.84 percent i.e. Rs 26.50 at 10.05 am.
Adani Enterprises earned Rs 1,888 crore
Adani Enterprises Limited (ael)’s net profit for the third quarter (October-December) of the current financial year has more than doubled. The flagship company of the group led by billionaire Gautam Adani said that its strong performance was mainly contributed by renewable energy, airports and roads businesses. The company said in the statement that its net profit in October-December, 2023 was Rs 1,888 crore, which was Rs 820 crore in the same period last year. Adani Enterprises said pre-tax profit in green hydrogen business quadrupled to Rs 1,655 crore. Similarly, the pre-tax profit of the road business doubled to Rs 910 crore and the pre-tax profit of the airport business increased by 27 percent to Rs 1,774 crore.
Gautam Adani said- Emphasis on increasing customer satisfaction
The company’s pre-tax profit increased by 89 percent to Rs 3,717 crore. Adani Group Chairman Gautam Adani said that the third quarter has been strong for the company, our two key new businesses (new energy and airports) have gained momentum. He said that our commitment to enhance customer satisfaction and redefine the consumer experience at our airports remains firm. We are also pleased with our progress in establishing a fully integrated manufacturing chain for green hydrogen production. In the third quarter of the current financial year, the company’s operating income increased by seven percent to Rs 28,827 crore.
Adani Ports earned Rs 2,208 crore
The consolidated net profit of Adani Ports and Special Economic Zone (APSEZ) for the third quarter of the current financial year (October-December, 2023) stood at Rs 2,208.21 crore, with a growth of 65.22 percent. The integrated net profit of the country’s largest integrated logistics company in the same quarter of the last financial year was Rs 1,336.51 crore. APSEZ said in the information given to the stock market that its total income in the quarter under review increased to Rs 7,426.95 crore, which was Rs 5,051.17 crore in the same quarter of the last financial year. The total expenses of the company increased to Rs 4,588.10 crore in the quarter under review, which was Rs 3,507.18 crore in the same quarter of the last financial year.
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