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Adani Enterprises share price gains over 3% on three-fold jump in Q3 net profit

BusinessToday.In     February 6, 2020

Adani Enterprises share price gained in early trade today after the flagship company of Adani Group reported a three-fold jump in its consolidated net profit at Rs 426 crore in Q3 of current fiscal. The Gautam Adani-led company had posted a consolidated net profit of Rs 92 crore during the same quarter last year.

Share price of Adani Enterprises rose up to 3.11% to Rs 243.6 to hit a fresh 52-week high against the previous close of Rs 236.25 on BSE.

Adani Enterprises share price has 9.26% in last three days. The stock has risen 95.6% during the last one year. It has gained 15% since the beginning of this year. Consolidated total income in Q3 rose 5 per cent to Rs 11,075 crore against Rs 10,548 crore in the same quarter of previous year, Adani Enterprises said.

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EBITDA (Earnings before Interest, Tax, Depreciation and Amortisation) grew 58 per cent to Rs 884 crore in Q3FY20 versus Rs 562 crore in Q3FY19.

For the nine month period ended December 31, 2019, profit gained 148 per cent year-on-year to Rs 1,077 crore, while total income increased by 11 per cent to Rs 30,388 crore.

On Wednesday, shares of Adani Enterprises closed 4.81 per cent higher at Rs 236.25 apiece on the BSE.

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