7 of 10 Adani Group companies reported net profit growth in Q2; check full list

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Ambuja Cements, the cement and building material flagship company of the Adani Group, emerged as the top performer among group companies, achieving a stellar 1835% jump in its consolidated net profit, reaching ₹987 crore as compared to a net profit of ₹51 crore in the corresponding quarter of the previous year. Adani Power stood as the second top performer, reporting an 848% improvement in its consolidated net profit, reaching ₹6,594 crore compared to a net profit of ₹695.33 crore in the corresponding period of the last year, due to improved EBITDA, higher one-time income, and recognition of deferred tax asset.

Also Read: US-Adani deal for Sri Lanka port heats up race with China Its consolidated revenue from operations rose by 61% YoY to ₹12,155 crore from ₹7,534 crore in Q2FY23. The company earned a tax credit of ₹1,371 crore during the quarter under review as against a tax expense of ₹139 crore, YoY.

During Q2 FY24, the company and its subsidiaries achieved an average Plant Load Factor (“PLF") of 58.3% and power sales volume of 18.1 billion units (“BU"), as compared to PLF of 39.2% and power sales volume of 11 BU in Q2 FY 2022-23. Adani Green Energy, the renewable energy arm of the Adani Group, secures the third position in the group's performance chart.

It reported a 149% YoY surge in its consolidated net profit at ₹372 crore in Q2 FY24. The company's revenue surged to ₹2,220 crore from ₹1,584 crore in the year-ago quarter.