Adani Ent hits fresh 52-week high on healthy operational performance in Q2
Shares of Adani Enterprises hit a fresh 52-week high of Rs 358.95, up 4 per cent on the BSE on Wednesday after the company reported a strong operational performance in the September quarter (Q2FY21). The stock of the Adani Group company recovered 6.5 per cent from its intra-day low of Rs 337.50 on the BSE.
The consolidated EBIDTA (earnings before interest, taxes, depreciation, and amortisation) for the quarter increased by a healthy 76 per cent at Rs 951 crore owing to better volumes in mining services and solar manufacturing businesses.
The company’s consolidated profit after tax (PAT) attributable to owners stood at Rs 362 crore against Rs 50 crore in the previous year quarter. In Q2FY20, the profit was impacted due to a one-time exceptional loss of Rs 130 crore. Consolidated total income for the quarter increased by 8 per cent at Rs 9,312 crore.
