How has Adani Group performed so far in FY24? Here are the key numbers of revenues, profits and stock market performance.

Billionaire Gautam Adani led Adani Group that has 10 listed companies has reported a mixed set of financial results so far in financial year 2023-24. 

Data available from the corporate database Ace Equity shows that for the first three quarters in FY24, the combined revenue of Adani Group companies stands at Rs 2.32 lakh crore. That represented a decline of 6% in these nine months (April to December 2023) from Rs. 2.48 lakh crore in the same period last year. However, the profits have jumped a staggering 126% Rs 33,920 crore from Rs 15,014 crore in this duration.

With profit after tax (PAT) of Rs 18,092 crore Adani Power is the most profitable company of the Adani group. Its PAT has witnessed a year on year (YoY) jump of 230% from Rs. 5,484 crore. Adani Ports with PAT of Rs. 6216 crore, Ambuja Cements (Rs 3193 crore), Adani Enterprises (Rs. 3029 crore) and ACC ltd. (Rs 1380 crore) are the top five profit generating firms of Adani group.

Stock market performance: This outstanding performance in terms of profitability is also reflected in the stock market performance of Adani group companies.  The combined market cap of 10 Adani companies have surged 114% in last one year to Rs 16.22 lakh crore on Feb 22, 2024 from Rs. 7.58 lakh crore a year ago. Last year the market valuation of the Adani group plunged sharply after the hindenburg report came. However as of now most of that decline has been recovered.

With a 256% increase in the m-cap Adani Green Energy is the biggest gainer in the group followed by Adani Power (244%) and Adani Ports and Special Economic Zone (140%). Except for Adani Wilmar (declined 8%), all other Adani companies have gained in the past 12 months period.

Performance in last quarter: In Q3 the topline of Adani group surged 12% to Rs 82,242 crore from Rs 73,433 crore revenues reported in the previous quarter Q2FY24. While the combined profit after tax of all 10 listed Adani companies have declined 12% to Rs 9,425 crore in Q3 from Rs 10,694 crore in Q2.

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