Adani Ports and Special Economic Zone’s profit decreased by 13% in the third quarter, integrated total income increased in October-December
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New Delhi : Gautam Adani, one of the leading industrialists of India, has suffered a big loss on the economic front. According to the news of the news agency Bhasha, the integrated net profit of Adani Ports and Special Economic Zone (APSEZ) for the third quarter of the current financial year ended December 2022 declined by 12.94 percent to Rs 1,336.51 crore. The country’s largest integrated logistics company had earned an integrated net profit of Rs 1,535.28 crore in the same quarter of the previous financial year.
increase in integrated total income
In a communication to the stock exchanges, APSEZ said that its consolidated total income increased to Rs 5,051.17 crore during the third quarter from Rs 4,713.37 crore in the same quarter of the previous financial year. The company’s total expenses increased to Rs 3,507.18 crore in the October-December quarter. In the same period a year ago, this figure was Rs 2,924.30 crore.
Shares of Adani Group firm stopped falling
According to media reports, Adani Group companies Adani Enterprises, Gravita, Tri Turbine, Adani Transmission, and BSL International Services saw gains in Tuesday’s morning trade due to stability in the market. Among Adani group firms, shares of Adani Enterprises rose by Rs 21.20, or 1.53 per cent, to Rs 1,593.70, while Adani Ports gained Rs 4.50, or 0.83 per cent, to Rs 549.80 on Tuesday morning. Shares of Adani Wilmar rose by Rs 14.40, or 3.79 per cent, to Rs 393.60. At the same time, Adani Transmission shares rose by Rs 62.80 or 5 per cent to Rs 1,319.25.
Shares fall after Hindenburg Research report
Let us tell you that in the report released on January 24 by the American shot selling firm Hindenburg Research, the trend of declining shares of Adani Group firms continues after the allegations of rigging and accounting fraud in the shares for decades. On the other hand, ever since the report became public, there has been a ruckus in the politics of the country. The opposition has created a ruckus regarding the discussion on this issue in the Parliament.
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