Adani Enterprises Q4 profit jump twofold as it recovers from Hindenburg attack earlier | Mint
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Business News/ Markets / Stock Markets/  Adani Enterprises Q4 profit jump twofold as it recovers from Hindenburg attack earlier
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Adani Enterprises Q4 profit jump twofold as it recovers from Hindenburg attack earlier

Adani Enterprises shares rally 4% during its trading session after the company records 137% net profit growth in Q4 and 120% dividend announcement for eligible shareholders.

Adani Enterprises (Bloomberg)Premium
Adani Enterprises (Bloomberg)

Adani Enterprises shares rally 4% during its trading session after the company records 137% net profit growth in Q4 and 120% dividend announcement for eligible shareholders.

“The Board has recommended Dividend of Rs. 1.20 (@ 120%) per Equity Share of face value of Re. 1 each fully paid up for the Financial Year 2022- 23, subject to approval by shareholders of the Company. Pursuant to the Regulation 42 of SEBI Listing Regulations, it is hereby informed that the Company has fixed Friday, 7th July, 2023 as ‘Record Date’ for the purpose of determining entitlement of the members of the Company to receive Dividend of Rs. 1.20 (@ 120%) per Equity Share having face value of Re. 1/- each fully paid-up for the financial year 2022-23. The said Dividend, if declared by the shareholders at the ensuing AGM, shall be paid on or after 21st July, 2023, subject to deduction of tax at source as applicable," said Adani Enterprise in a stock exchange filing.

The company said its revenue from operations stood at 31,346.05 Cr during Q4FY23, up by 26% YoY from 24,865.52 Cr during Q4FY22, whereas in FY23 its revenue reached 136,977.76 Cr as against 69,420.18 Cr during FY22.

Adani Enterprises said its net expenses stood at 30,179.51 Cr during Q4FY23, up by 22.31% YoY from 24,673.25 Cr during Q4FY22, whereas in FY23, the company’s net expenses stood at 134,555.90 Cr as against 69,480.64 Cr during FY22.

The net profit of Adani Enterprises reached 722.48 Cr during the quarter under review, up by 137.40% YoY from 304.34 Cr recorded in the year-ago quarter, whereas in FY23 its PAT reached 2,472.94 Cr as against 776.56 Cr during FY22, up by 218.44% YoY. The EPS of Adani Enterprises reached 6.34 during Q4FY23 as against 2.77 in Q4FY22.

“Once again, Adani Enterprises has lived up to its standing as not only India’s most successful business incubator but also one of the world’s most successful infrastructure foundries," said Mr Gautam Adani, Chairman, Adani Group.

“The past year’s results represent indisputable evidence of the strength and resilience of the Adani Group’s operational and financial performance. These exceptional results also highlight our consistent track record of gestating and building critical infrastructure businesses. Our mega-scale infrastructure project execution capabilities and our O&M management skills, which are comparable to the best in the world, are strengths that we continue to derive from the Adani portfolio’s diversity to create reliable long-term value for all our investors. Our focus remains on governance, compliance, performance, and cashflow generation," said Mr Gautam Adani.

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Published: 04 May 2023, 03:32 PM IST
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