Adani Energy, Adani Total Gas shares surge ahead of Q4 earnings
Adani Total Gas (ATG) jumped over 3% to hit the day's high of Rs 947.65 on the NSE on Tuesday while those of Adani Energy Solutions surged 2.5% to 1,087.30 ahead of their March quarter earnings due to be announced today.
Adani Energy Solutions, which was previously known as Adani Transmission, had reported an 85% increase in its consolidated profit after tax (PAT) for the March 2023 quarter at Rs 440 crore supported by a one-time income of Rs 148 crore (net off tax Rs 122 crore) based on a regulatory order in the transmission business.
The consolidated revenue had increased by 17% to Rs 3,031 crore. For the full financial year ended March 31, 2023, the consolidated revenue had risen 19% to Rs 12,149 crore.
In the October-December quarter, Adani Energy Solutions had reported a net profit of Rs 114 crore, which was up from Rs 99.10 crore, a 15% YoY gain. The revenue from operations in Q3FY24 rose three-fold to Rs 885 crore from Rs 271 crore.
Meanwhile, Adani Total Gas had reported a PAT of Rs 104.25 crore in Q4FY23 and a revenue of Rs 1,197.15 crore in the said period. In the December ended quarter of FY2024, the net profit reported by ATG stood at Rs 172.28 crore while the revenue at Rs 1,243.16 crore. Over the past 12 months returns by ATG stock stand at negative 3% while those of Adani Energy at 19%.
With the fourth quarter earnings underway, as many as 211 companies will announce their quarterly results this week with some major names in the mix. Investors will be particularly watching out for some major
