Adani Enterprises’ Q4 Profit Tumbles 38% Amid Rising Costs and Exceptional Losses

Adani Enterprise Q4 results show a 38% net profit drop due to airport dues, mining losses, despite gains in new energy, airports, and a slight revenue increase.
Adani Enterprises’ Q4 Profit Tumbles 38% Amid Rising Costs and Exceptional Losses

Adani Enterprises reported a 38% drop in Q4 net profit for FY24, recording Rs 450.58 crore, down from Rs 722.48 crore the previous year. The decrease was attributed to one-time airport dues and losses in commercial mining.

Trade Intraday, Equity and Commodity in Alice Blue and Save 33.3% Brokerage.

The company’s consolidated net profit contrasted sharply with the previous quarter’s earnings of Rs 1,888.45 crore. Despite a challenging quarter, its incubator businesses in sectors such as airports and new energy showed strong performance momentum.

Adani’s EBITDA fell by 8% in Q4 to Rs 3,646 crore. The commercial mining segment recorded a loss of Rs 201.83 crore, and earnings from the roads sector plunged by 84%, affected by exceptional costs at Mumbai International Airport Ltd (MIAL).

Adani New Industries Limited (ANIL), focusing on new energy, saw a 6.2x growth in EBITDA to Rs 641 crore. Airport operations also improved, with EBITDA more than doubling to Rs 662 crore, boosted by a 19% increase in passenger numbers.

Despite a slight annual increase in revenue to Rs 29,180.02 crore, overall net profit for FY24 grew by 31% to Rs 3,240.78 crore. This was achieved even as yearly revenue fell compared to the previous fiscal year.

Adani Enterprises declared a Rs 1.3 per share dividend for FY24. Post-Q4 results, its stock experienced a slight decline. The company also plans significant investments in digital infrastructure and green energy, aiming for net zero emissions by 2050 across its operations.

Read More News

Ztech India IPO : 29 मई को खुलेगा इश्यू, यहां जानिए GMP, प्राइस बैंड, IPO से जुड़ी पूरी डिटेल!

Ztech India IPO में ₹65 का ग्रे मार्केट प्रीमियम है, जिसकी कीमत ₹104 से ₹110 प्रति शेयर के बीच है। 1200 शेयर लॉट की पेशकश, सदस्यता 29 मई से 31 मई, 2024 तक खुली रहेगी।

Awfis Space IPO अलॉटमेंट, सब्सक्रिप्शन, GMP और अधिक जानने के लिए यहाँ देखें!

Awfis Space IPO : अलॉटमेंट, सब्सक्रिप्शन, GMP और अधिक जानने के लिए यहाँ देखें!

Awfis Space Solutions IPO आवंटन 28 मई, 2024 के लिए निर्धारित है, जिसमें प्रत्येक शेयर की कीमत ₹364 से ₹383 होगी। यह पेशकश 39 शेयरों या उसके गुणकों के लॉट के लिए बोली लगाने की अनुमति देती है।