Adani Enterprises profit in Q3 rises on ‘regulatory compliance’
Adani Enterprises Ltd (AEL), which is in the eye of the storm created by the Hindenburg Research report on the Adani Group, has reported a sharp jump in consolidated net profit at Rs 739.88 crore for third quarter ended December 2022 as against Rs 1.80 crore in the same period of last year, a rise of 41,000 per cent. The net profit attributable to the owners of the company has shot up to Rs 820.06 crore for the quarter from a loss of Rs 11.63 crore a year ago.
Shares of AEL gained 1.91 per cent at Rs 1,750.30 on the BSE on Tuesday. The stock has fallen 58 per cent from Rs 4,189 since December 21, 2022.
