137% jump in profit of Adani Enterprises in the fourth quarter, Gautam Adani becomes chairman again

Adani Enterprises Q4 Results: Adani Enterprises, the flagship company of Adani Group, has announced the results for the fourth quarter January to March of the financial year 2022-23. And there has been a jump of 137.5 percent in the company’s profits in this quarter. The profit of Adani Enterprises for the quarter ending March 31, 2023 has been Rs 722.48 crore, which was Rs 304.32 crore in the same quarter of the previous financial year.

Adani Enterprises has also announced dividend for the shareholders. The board of the company has decided to pay a dividend of 120 per cent or Rs 1.20. The face value of the shares of the company is Rs. The company’s revenue has increased by 26.06 percent to Rs 31,346.05 crore as compared to Rs 24,865.52 crore in the same quarter last year. At the same time, the company’s net profit in the financial year 2022-23 has been Rs 2421.6 crore with a jump of 207.4 per cent, while it was Rs 787.7 crore in 2021-22.

There has been a jump of 42 percent in the coal trading business of Adani Enterprises. The company says that due to the forecast of severe heat this year, the power consumption was expected to increase. Due to this, power plants started increasing the stock of coal. The benefit of which has been given to Adani Enterprises.

Apart from this, in the board meeting, Adani Enterprises has again appointed Group Chairman Gautam Adani as Executive Chairman for the next five years. At the close of the market today, the stock of Adani Enterprises closed at Rs 1911 with a gain of 3.93 per cent.

The last quarter has been very volatile for Adani Enterprises. In the fourth quarter, Adani Enterprises had to postpone the Rs 20,000 crore FPO due to the Hindenburg Research report. In the same quarter, due to Hindenburg’s report, there was a big fall in the shares of Adani Group. The stock of Adani Enterprises fell from the level of Rs 4190 to Rs 1017.

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