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7 of 10 Adani Group companies reported net profit growth in Q2; check full list


Adani Power stood as the second leading performer, reporting an 848% improvement in its consolidated net profit, achieving 6,594 crore as against a net profit of 695.33 crore in the corresponding period last year, due to improved EBITDA, higher one-off income, and recognition of deferred tax asset.

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Its consolidated income from operations increased by 61% YoY to 12,155 crore from 7,534 crore in Q2FY23. The company earned a tax credit 1,371 crore during the quarter under review as against tax expense of 139 crore, YoY.

During Q2 FY24, the company and its subsidiaries achieved an average Plant Load Factor (“PLF”) of 58.3% and a power sales volume of 18.1 billion units (“BU”), compared to a PLF of 39.2% and a power sales volume of 11. BU in Q2 FY 2022-23.

Adani Green Energy, the renewable energy arm of the Adani Group, takes third place in the group’s performance chart. It reported a YoY rise of 149% in its consolidated net profit at 372 crore in Q2 FY24. The company’s income rose to 2,220 crore from 1,584 crore in the year-ago quarter.

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The company’s energy sales rose a significant 87% YoY, supported by strong capacity additions and improved CUF across solar, wind and hybrid portfolios, according to the company’s earnings report.

Company Name Q2FY24 Net Profit ( in Cr) YoY increase (%)
Ambuja Cement 987 1835%
Adani Power 6,594 848%
Adani Green Energy 371 149%
Adani Energy Solutions 284 47%
Adani Total Gas 173 8%
Adani Ports and SEZ 1,747 4.2%
ACC 388
Adani Enterprises (228)
Adani Wilmar (131)
NDTV (6)

Adani Energy Solutions, formerly known as Adani Transmission, is a multi-dimensional organization with a presence in various aspects of the energy field, namely power transmission, distribution, smart metering and cooling solutions. It reported a 47% YoY improvement in its consolidated net profit at 284 crore, while revenue from operations improved by 12.8% YoY to 3,421 crore.

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During the quarter, the company received LOA for four smart metering projects in Maharashtra, AP, and Bihar, amounting to 14.76 million smart meters with a contract value of 174 billion, the company said in its earnings report.

Adani Total Gas, the country’s largest municipal gas distribution company, posted an 8% growth in its consolidated net profit at 173 crores. However, the income from operations fell slightly by 1.79% YoY to 1,096 crore in Q2 FY24.

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Adani Ports and Special Economic Zone (APSEZ) reported a 4.2% rise in its Q2 FY24 consolidated net profit at 1,747.8 crore, compared to 1,677.5 crore in the corresponding period of last year.

The major port’s revenue from operations in the quarter ending September 2023 was 6,646.6 crore, registering a growth of 27.6% as compared to 5,210.8 crore in the year-ago period.

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On the other hand, ACC, one of the leading producers of cement concrete and premixes in India, reported a consolidated net profit of 388 crores. In the same period last year, the company posted a net loss 87 crores.

However, as seen sequentially, the net profit fell by 16.80%. His income came in at 4,435 crore, an increase of 11.22% over Q2FY23 revenue of 3,987.34 crore.

On the flip side, Adani Enterprises, Adani Group’s flagship company, posted a 51% fall in its consolidated net profit to 228 crore in Q2. In the same period last year, the company posted a net profit of 460 crores.

Adani Wilmar reported a net loss of 131 crore in Q2FY24 as against a net profit of 49 crore in the same quarter of the previous year. In addition, NDTV posted a net profit of 5.9 crore in Q2FY24, a 50% drop over Q2FY23 net profit of 12 crores.

Disclaimer: The opinions and recommendations of the individual analysts presented in this article are. These do not reflect the views of the Mint. We encourage investors to check with certified experts before making any investment decision.

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Updated: 10 November 2023, 06:32 PM IST

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