Adani Enterprises, the flagship company of Asia’s second richest businessman Gautam Adani, has done wonders. Adani Enterprises has generated a profit of 664 percent in the second quarter. On the other hand, there has been an increase of 16 percent in revenue. If experts are to be believed, the second quarter figures of Adani Enterprises have been quite impressive. After the arrival of these figures, shares of Adani Enterprises closed with a rise of about one and a half percent. Let us also tell you what kind of figures have been seen for the second quarter of Adani Enterprises.
664 percent increase in profit
Adani Enterprises has released its September quarter results on Tuesday. In which the company has seen an increase of 664 percent i.e. about 8 times in profit as compared to the same period last year. According to the data, the company has made a profit of Rs 1,742 crore in the second quarter. This profit in the previous period was Rs 228 crore. On the other hand, the operational revenue of the company was Rs 22,608 crore which was Rs 19,546 crore in the same period last year. This means that the company’s revenue has seen an increase of more than 16 percent.
How much did earnings increase compared to the first quarter?
The company’s board, in its meeting held on Tuesday, also approved a plan to raise funds of Rs 2,000 crore by issuing non-convertible debentures (NCDs) in one or more tranches. On a sequential basis, the net profit of the second quarter of the financial year has been seen 20 percent more than that of the first quarter, which was Rs 1,454.50 crore. The special thing is that compared to the first quarter, there has been a decline of 11 percent in the company’s revenue. The company’s revenue in the first quarter was Rs 25,472.40 crore.
Company’s shares rise
After the quarterly results of Adani Enterprises, there has been a rise in the shares of the company. According to the data, Adani Enterprises shares saw a rise of 1.46 percent and closed at Rs 2841.45. However, the company’s shares had reached Rs 2841.45 during the trading session. However, a day ago the company’s share was at Rs 2800.45 and this morning it opened at Rs 2800. The company’s shares had reached a 52-week high of Rs 3,743 on June 3.
