Adani Enterprises Q4 net profit drops 38% to ₹451 crore; shares trade under pressure

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Adani Enterprises net profit dropped 38% to ₹451 crore in the January-March quarter of the financial year 2023–24, on account of a one-time loss of ₹624 crore in the quarter.

#4QWithCNBCTV18 | Adani Ent reports #Q4 earnings

➡️Net profit down 38% at ₹451 cr vs ₹723 cr (YoY)
➡️One-time loss at ₹624 cr vs loss of ₹369 cr (YoY)
➡️Revenue up 0.8% at ₹29,180 cr vs ₹28,944 cr (YoY)
➡️EBITDA down 11% at ₹3,195 cr vs ₹3,607 cr (YoY)
➡️Margin at… pic.twitter.com/X7VUVAknyn

— CNBC-TV18 (@CNBCTV18Live) May 2, 2024

Billionaire Gautam Adani promoted Adani Group firm’s revenue increased marginally by 0.8% on a year-on-year (YoY) basis to Rs29,180 crore. The company had posted Rs 28,944 crore revenue in the same quarter a year ago.

the company saw a substantial decline in net profit, plummeting by 38% to ₹451 crore from ₹723 crore year-over-year. This downturn was largely attributed to a significant one-time loss of ₹624 crore, a stark difference from the ₹369 crore loss recorded in the previous year.

Moreover, Adani Enterprises’ EBITDA came in at ₹3,195 crore, dropping 11% YoY from ₹3,607 crore in the same period last year. The margin declined from 12.5% to 10.9% year-over-year.

The Board of Adani Enterprises also recommended a dividend of ₹1.30 per equity share against a face value of Re1 for the financial year 2023–24, subject to shareholders’ approval. The Company has fixed June 14, 2024, as ‘Record Date’ for determining eligible shareholders, and the dividend amount will be credited on or after June 30.

Adani Enterprises share price quoted at ₹3,041.20, down 0.44% on NSE at 3.06 pm. So far this year, the scrip has gained nearly 4.5%, while the one-year return on the stock price is over 58%.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow