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Adani Enterprises Q1 Results: Profit Jumps 54%, Revenue Surges 64%

 

  • Adani Enterprises Q1 Results: Profit Jumps 54%, Revenue Surges 64%
  • Adani Enterprises has interests in mining, infrastructure, road, rail and airport projects, among other sectors.
  • Adani Enterprises Ltd., the billionaire Gautam Adani-led conglomerate’s flagship company, saw its first quarter profit jump.Net profit increased 54% sequentially to Rs 469.5 crore in the quarter ended June, according to its exchange filing. Adani Enterprises has interests in mining, infrastructure, road, rail and airport projects, among other sectors.Adani Enterprises Q1 FY23 Key Highlights (QoQ)Revenue stood at Rs 40,844.3 crore, up 64%. Ebitda up 38% to Rs 1,742.4 crore.Ebitda margin at 4.3% against 5%.Recently, the company through a subsidiary has entered the industrial 5G space by participating in the spectrum auction.Its market capitalisation has crossed Rs 3 lakh crore, making it the fourth Adani Group company to do so. Adani Transmission Ltd. is the group’s most valued firm.Shares of Adani Enterprises ended 0.45% higher before the results were announced compared with an almost unchanged Nifty 50.Continue Reading. Read more on Business News by BloombergQuint.
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    • India2022-08-04 13:30:11url
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