Adani Enterprises reports multifold rise in Q2 net profit, stock gains 

Adani Enterprises reported a multifold rise in net profit for the September 2024 quarter.  Net profit climbed 664.52% to Rs 1741.7 crore in Q2 against Rs 227.82 crore in the September 2023 quarter. EBITDA climbed 46% to Rs 4554 crore in the last quarter against Rs 2979 crore on a Y-o-Y basis. Q2 EBITDA margin came at 16.7% compared to 10.79% on a YoY basis. 

Revenue rose 15.66% to Rs 22,608 crore in Q2 compared to Rs 19,546 crore crore in the corresponding quarter a year ago. 

Additionally, the board of the firm also approved issuing of non-convertible debentures (NCDs) worth Rs 2,000 crore. 

Gautam Adani, Chairman of the Adani Group said, "Our focus on execution of greenfield projects in Adani New Industries Ltd (ANIL) across three giga scale integrated manufacturing plants and the accelerated development of Navi Mumbai International Airport are driving these robust results. Further, Adani Enterprises is poised to repeat this turbo growth across data centres, roads, metals & materials and specialized manufacturing. Adani Enterprises continues to invest in innovative technology across its platforms to support this high growth phase.” 

Adani Enterprises shares rose 2.22% to Rs 2862.35 in the current session compared to the previous close of Rs 2800.45 on BSE. Market cap of the firm climbed to Rs 3.29 lakh crore.