Adani Enterprises shares in focus after Q2 profit skyrockets 664% YoY to Rs 1,742 crore
Adani Enterprises shares are in focus on Wednesday after the firm reported a 664% year-on-year (YoY) jump in its consolidated net profit for the September quarter, reaching Rs 1,742 crore, compared to Rs 228 crore reported in the same period last year.
The company's revenue from operations stood at Rs 22,608 crore in the reported quarter, which represents a 16% increase compared to Rs 19,546 crore in the corresponding quarter of the previous financial year.
Adani Enterprises' board, at a meeting held on Tuesday, approved a Rs 2,000 crore fundraising plan through the issuance of Non-Convertible Debentures (NCDs) in one or more tranches.
On a sequential basis, the net profit for Q2 FY25 jumped 20% compared to Rs 1,454.50 crore reported in Q1 FY25. However, revenue declined by 11% from Rs 25,472.40 crore posted in the April-June quarter of FY25.
AEL raised Rs 4,200 crore ($500 million) through a Qualified Institutional Placement (QIP), which was subscribed to by both international and domestic investors. Meanwhile, AEL and its subsidiaries raised Rs 3,874 crore ($460 million) through the issuance of Non-Convertible Debentures (NCDs), attracting a diversified set of investors.
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