Adani Enterprises’ profit in the July-September quarter has increased almost eight times year-on-year to Rs 1,742 crore. The company’s consolidated net profit was Rs 228 crore in the same quarter a year ago.
At the same time, the income (revenue) in the second quarter has increased by 16% to Rs 22,608 crore. The revenue was Rs 19,546 crore in the same quarter a year ago. The company has released the results for the second quarter of the financial year 2024-25 on 29 October.
Adani Enterprises stock rose about 2%
After the result, Adani Enterprises’ stock closed 1.55% higher at Rs 2842. With this, the market cap of the company has also increased to Rs 3.28 lakh crore.
The company’s stock has fallen by about 9% in the last one month. At the same time, its stock has declined by 7% in the last six months. In the last one year, it has given 23% return to investors.
The company will raise Rs 2,000 crore through NCDs
The company has also decided to raise Rs 2,000 crore by issuing non-convertible debentures i.e. NCDs will be issued in one or more installments through a public issue.
Earlier, in October 2024, Adani Enterprises had raised Rs 4,200 crore from institutional investors through QIP, in which Quant Mutual Fund emerged as the largest investor.
Draft Scheme of Arrangement with Adani Wilmar withdrawn
The board of Adani Enterprises has decided to withdraw the Draft Scheme of Arrangement with Adani Wilmar, which was approved in August 2024. Adani Wilmar will have to meet the minimum public shareholding rules, due to which this decision has been taken.
Adani Enterprises was founded in 1988
The company is a part of the Adani Group of companies. Gautam Adani founded the enterprises in 1988. The company’s chairman is Gautam Adani, managing director is Rajesh Adani and CEO is Vinay Prakash.
The company works on energy and infrastructure projects. It is the country’s largest business incubator. This company works in the fields of energy and utility, transportation and logistics, consumer goods, and primary industry.
