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Adani Enterprises share price falls 4% post Q4 earnings

Share price of Adani Enterprises declined 4% to Rs 127.40 compared to the previous close of Rs 132.70 on BSE


twitter-logoBusinessToday.In | May 6, 2020 | Updated 18:39 IST
Adani Enterprises share price falls 4% post Q4 earnings
Adani Enterprises stock stands lower than its 5 day, 20 day, 50 day, 100 day and 200 day moving averages

Adani Enterprises share price fell in trade today after the firm reported a 63.57% fall in consolidated net profit for the quarter ended March 2020. Share price of Adani Enterprises declined 4% to Rs 127.40 compared to the previous close of Rs 132.70 on BSE.

Adani Enterprises stock stands lower than its 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Adani Enterprises share has lost 36% since the beginning of this year but gained 6.26% during the last one year. However, the stock closed flat at Rs 133.30 on BSE.

Adani Enterprises reported consolidated profit of Rs 96.93 crore  for the fourth quarter ended March 31 against consolidated profit of Rs 266.09 crore for the corresponding quarter a year-ago.

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Consolidated total income for the quarter rose 2 per cent to Rs 13,698 crore against Rs 13,473 crore during the year-ago period. Total expenses of the company rose to Rs 13,711.98 crore during the quarter under review as against Rs 12,975.30 crore in the same period previous fiscal.

"Adani Enterprises Limited has always strived towards nation building through its business endeavours which focuses on creating excellent infrastructure capabilities to accelerate the growth. With the COVID-19 pandemic has brought things to a halt, we at Adani will persistently support our fellow Indians through these testing times. We aim to emerge stronger once situations normalize. The emphasis will be on continued incubation of future businesses and create value for our stakeholders in the long term," the group's Chairman Gautam Adani said.

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