Adani Q4 Results: Adani Enterprises’ net profit declined marginally in the fourth quarter, due to increase in expenses, there was a dent in profits
Gautam Adani, Adani Enterprises LTD,
Highlights
- Adani Enterprises Ltd. Net profit down 2 percent to Rs 325.76 crore
- Company’s consolidated income increased to Rs 25,141.56 crore in the fourth quarter of 2021-22
- Adani Enterprises’ expenses jump to Rs 24,673.25 crore in the quarter
Adani Q4 Results: Adani Group’s flagship company Adani Enterprises Ltd. (AEL) reported a two per cent decline in consolidated net profit at Rs 325.76 crore for the quarter ended March 31, 2022. The profit of the company has come down mainly due to increase in expenses.
Adani Enterprises said in a information given to the stock market on Tuesday that its consolidated net profit in the January-March quarter of the previous financial year 2020-21 was Rs 332.53 crore. The company’s consolidated income increased to Rs 25,141.56 crore in the fourth quarter of 2021-22 from Rs 13,688.95 crore in the same quarter a year ago. Adani Enterprises’ expenses rose to Rs 24,673.25 crore in the quarter under review from Rs 13,213.95 crore in the January-March quarter of 2020-21 a year ago.
AGEL approves issue of shares worth Rs 3,850 crore
Adani Green Energy Limited (AGEL) has received the approval of its shareholders for issue of shares worth Rs 3,850 crore on a preferential basis to green energy investment holding RAC Ltd. AGEL will issue more than two crore shares for this. The current major shareholder of Green Energy Investment Holding is IHC Capital Holding LLC. Adani Green told the stock exchange that in the Extraordinary General Meeting (EGM) convened on Tuesday, shareholders approved issuance of equity shares on a preferential basis to Green Energy Investments.
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