Latest News | Adani Enterprises Shares Climb over 3 Pc as Q4 Profit Jumps
Get latest articles and stories on Latest News at LatestLY. Shares of Adani Enterprises Ltd climbed over 3 per cent on Friday morning after the firm reported a 7.5-fold jump in its fourth quarter net profit.
New Delhi, May 2 (PTI) Shares of Adani Enterprises Ltd climbed over 3 per cent on Friday morning after the firm reported a 7.5-fold jump in its fourth quarter net profit.
The company's share price went up by 3.14 per cent to Rs 2,370 on the BSE.
At the NSE, the stock rallied 3 per cent to Rs 2,372.40.
Adani Enterprises Ltd, the flagship company of the billionaire Gautam Adani's group, on Thursday reported a 7.5-fold jump in its fourth quarter net profit on the back of one-time gain from stake sale in consumer goods venture, and strong growth in solar manufacturing and airports.
Net profit of Rs 3,845 crore in January-March - the fourth quarter of April 2024 to March 2025 fiscal year - compared with Rs 450.58 crore earnings in the same period a year back, according to a company statement.
The profit rise was helped by a Rs 3,286 crore gain made from the sale of stake in Wilmar.
After adjusting for one-time gain from the Wilmar stake sale, the net profit came at Rs 1,313 crore.
The strong performance was driven by the company's incubator businesses - solar and wind manufacturing and airports, which are expected to be the next large value creators for the group.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)