Adani Enterprises Reports ₹3,845 Crore Profit in Q4, a 752% Increase; Shares Rise by 2%; Dividend Announced; ₹15,000 Crore Funding Plan Unveiled.
Adani Enterprises: Adani Enterprises reported a profit of ₹3,845 crore for the fourth quarter (Q4) of fiscal year 2024, representing a remarkable 752% increase compared to the previous year. Following this announcement, the company's shares saw an increase of approximately 2%, currently trading at ₹2,360.
Key Drivers and Exceptional Performance
A significant factor contributing to Adani Enterprises' profit was an exceptional gain of ₹3,286 crore, which constituted a major portion of the quarter's profit increase. However, operational revenue decreased by 8% to ₹26,966 crore. Despite this, the company's EBITDA increased by 19% to ₹4,346 crore, reflecting efficient operations and effective management.
Impressive Dividend and ₹15,000 Crore Funding Plan
The company announced an interim dividend of ₹1.3 per share for its investors, with a record date set for June 13th. Furthermore, Adani Enterprises plans to raise ₹15,000 crore through an equity issuance. This issuance will be conducted through private placement, Qualified Institutional Placement (QIP), or a preferential issue.
Segment-wise Performance
Various segments of Adani Enterprises demonstrated b performance. The green hydrogen and renewable energy business generated revenue of ₹3,661 crore, indicating a 32% year-on-year growth. The airports business also saw a 29% increase, recording revenue of ₹2,831 crore. Mining services achieved a 30% growth with 14 million metric tons dispatched.
Future Plans
The company plans to expand into green energy, data centers, airports, and infrastructure sectors. It aims to deliver improved results for its investors in the coming years.
Company Share Status
Despite a decline of over 23% in Adani Enterprises' share price over the past year (a 19.30% decrease in the last six months and an 8.48% decrease year-to-date), the quarterly results have boosted investor sentiment, resulting in a slight increase in share price.
