Results for Adani Ent Q1FY24: Consolidated net profit increased by 43% to Rs 673 crore

 Results for Adani Ent Q1FY24: Consolidated net profit increased by 43% to Rs 673 crore

Revenue from operations during the first quarter of FY24 was Rs 25,438.45 billion, down from Rs 40,844.25 billion in the prior quarter.

According to a BSE filing, Adani Enterprises Limited's consolidated net profit for the first quarter of the current fiscal year (Q1YFY24) increased by 43.55 percent to Rs 673.93 crore from Rs 469.46 crore in the equivalent period of the previous year.

The net profit decreased 6.71% sequentially. The company's net profit in Q4FY23 was Rs 722.48 crore.

The income from operations for the first quarter of FY24 was Rs 25,438.45 crore, down from Rs 40,844.25 crore year over year (YoY), or a decrease of 37.71%.

On a quarterly basis (QoQ), the revenue from operations decreased by 18.84%. In Q4FY23, it was Rs 31,346.05 crore.

Compared to Rs 41,066.43 crore YoY, the total income for Q1FY24 was Rs 25,809.94 crore, a decrease of 37.15 percent.

The overall revenue decreased by 18.62% from QoQ. In Q4FY23, it was Rs 31,716.40 crore.

Eight mining service contracts and two iron ore mine service contracts are held by the corporation throughout three states.

The chairman of the Adani Group, Gautam Adani, stated: "Adani Enterprises has continually demonstrated its reputation in addition to as India's most successful business accelerator but also as a global powerhouse in the development of infrastructure. Every quarter, year after year, and over three decades."

The Adani Enterprises Limited stock price was Rs 2,524.40 at 3:10 PM.