North India Statesman
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Adani Power, a company of Adani Group, has declared the results of the third quarter of the current financial year today i.e. on 29 January. In which the company said that its net profit increased by 7.4 per cent to Rs 2,940.07 crore in the December quarter, which was Rs 2,737.96 crore in the same quarter last year.
Revenue of Adani Power increased to Rs 13,671.18 crore
However, the company’s profits have declined on a quarterly basis. Its net profit in the September quarter was Rs 3,297.52 crore. The revenue of Adani Power increased to Rs 13,671.18 crore in the December quarter, which was Rs 12,991.44 crore in the same quarter a year ago. Its revenue in the September quarter was Rs 13,338.88 crore. Along with the results of the December quarter, the company’s board has also approved a plan to raise funds worth Rs 5,000 crore.
Share price increased by 5 percent
These funds will be collected through qualified institutional placement (QIP). In addition, the board also approved the increase in already approved funds from Rs 5,000 crore to Rs 11,000 crore through non-convertible debenture (NCD). Immediately after the announcement of the quarterly results, Adani Power’s shares saw a huge rise and the stock on NSE closed at Rs 522.25 with a jump of 5.04 per cent.
Adani Group company Ambuja Cement earned a profit of Rs 1,758 crore
The standalone profits of the Cement Company Ambuja Cement, a cement company of Gautam Adani’s Adani Portfolio, have witnessed a jump of 242 per cent in the October-December quarter. The company has made a profit of Rs 1,758 crore in a period of 90 days. Whereas in the same quarter of 2023-24, the total profit of the company was Rs 514 crore. During this period, the company’s standalone operating income has increased by 10 percent to Rs 4,850 crore. Whereas in the same quarter of the last financial year, the company’s profit was Rs 4,422 crore.
