Adani Enterprises Q1 profit up 43.6% on the back of improved performance

Adani Enterprises announced a 43.6 per cent surge in its net profit, attributable to the company’s owners, for the first quarter ending June 2023 (Q1FY24). This rise is credited to enhanced performance and increased other income, despite a sequential drop.

In Q1FY24, the company recorded a net profit of Rs 674 crore, marking a 43.6 per cent growth year on year (Y-o-Y), but a 6.7 per cent decline sequentially. The company’s revenue stood at Rs 25,438 crore, a 37.7 per cent reduction Y-o-Y and an 18.8 per cent decrease sequentially. The firm attributed this decline to lower coal prices in the reviewed quarter.