Adani Enterprises' second-quarter net profit increases eightfold to Rs 1,742 crore,

Results for Adani Enterprises' Q2 FY25: At Rs 1,742 crore, the net profit increased eightfold. The revenue was estimated by brokers to be Rs 26,345 crore. while sales is below projections. At Rs 1,742 crore, Adani Enterprises' Q2 FY25 net profit nearly doubled year over year. Revenue from operations for the multinational business increased by 16 percent to Rs 22,608 crore in the second quarter. When revenue growth outpaced spending, net profit increased. A Bloomberg poll of brokerages predicted that Adani Enterprises would announce EBITDA of Rs 4,900 crore and revenue of Rs 26,345 crore, up 17% year over year (YoY). Following the earnings release, the stock increased and was trading at Rs 2,853 on the NSE, up almost 2% from the previous close. In the past year, it has increased by 24%, bringing the company's market value to Rs 3.29 lakh crore. The board of Adani Enterprises made the decision to revoke the August 2024-approved draft plan of arrangement with Adani Wilmar Ltd. In a stock exchange filing, the Board stated that Adani Wilmar must meet its compliance requirements with relation to Minimum Public Shareholding (MPS). Additionally, Adani Enterprises has chosen to issue non-convertible debentures in order to raise Rs 2,000 crore. According to the corporation, the NCDs would be made available to the public in one or more tranches. Prior to this, in October 2024, Adani Enterprises received Rs 4,200 crore through a QIP from institutional investors, with the largest investor being Quant Mutual Fund. Coal and solar, natural resources, transportation (ports and airports), aircraft, agriculture, food processing, and emerging industries like digital technology, data centers, and green hydrogen are all interests of Adani Enterprises, the flagship firm of the Gautam Adani group. With a price objective of Rs 4,368 and a "overweight" rating, Cantor Fitzgerald began covering Adani Enterprises in January 2024. "We value the diversification it offers; investing in a single stock gives you exposure to multiple innovative businesses that you might not access by investing in a company focused on just one sector," stated Brett Knoblauch, Director of Equity Research at Cantor Fitzgerald, in an interview.