New Delhi (Anish Yande): Shares of Adani Enterprises rose up to 2 percent on Thursday's trading session. The shares of the conglomerate increased following the announcement of its results for the quarter ended March 2021.
The shares of Adani Enterprises had risen to an intraday high of Rs 1,311.85 per share on Thursday, after opening at Rs 1,272.35 per share. Adani Enterprises shares rose from their previous close of Rs 1,267.50 per share.
Adani Enterprises March quarter results:
Adani Enterprises Ltd reported an increase in net profit in the March quarter of FY21. The net profit of the conglomerate is at Rs 233.95 crore in the quarter ended March 31, 2021. The net profit in the corresponding quarter of the previous fiscal was recorded at Rs 234 crore.
The net profit of Adani Enterprises rose by 282.2 percent year-on-year basis.
Net profit of Adani Enterprises rose by 26 percent to Rs 1,182 crore in the financial year 2020-21.
The consolidated income of Adani Enterprises was at Rs 13,698.09 crore in the quarter ended March 2020 quarter. The consolidated income of the company was recorded at Rs 13,688.95 crore in the March quarter of 2021.
EBITDA of the company rises 65% in Q4:
The company's earnings before interest, taxes, depreciation, and amortization in the March quarter of 2021 rose to Rs 1068 crore, at an increase of 65% YoY. The EBITDA rose following increased sales in the company's solar equipment manufacturing business and improved margins in the IRM segment.
In the fiscal year 2021, the EBIDTA increased on a consolidated basis at Rs 3,259 crore, at an increase of 10 percent YoY.
Adani Enterprises stated that the volumes of solar manufacturing rose to 376 MW, at an increase of 95% YoY. Production in the Mining segment increased to 6.7 MMT by 34%. The company's board has recommended a dividend of Rs 1 per equity share with a face value of Rs 1 each for FY21.
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