Adani Enterprises' Soaring Profits: A New Era Beyond Coal

Adani Enterprises Ltd shares soared over 5% following an eight-fold rise in net profit for the quarter ending September 30, 2024. This growth was fueled by robust earnings from airports and new energy sectors, despite coal trading business challenges. Overall, revenue increased by 15%.

Shares of Adani Enterprises Ltd experienced a significant boost, jumping over 5% on Wednesday. This rise came after the company announced an impressive eight-fold increase in its net profit for the quarter ending September 30, 2024.

The flagship firm of billionaire Gautam Adani's conglomerate reported a net profit of Rs 1,741 crore, marking a 663% rise over the Rs 228 crore earned in the same period last year. This performance highlights strong earnings from its airport and new energy units, which compensated for the challenges in its coal trading division.

The impressive financial performance was further evidenced by a 46% increase in EBITDA to Rs 4,354 crore and a 15% rise in revenue, reaching Rs 23,196 crore. Adani's diverse business portfolio continues to show growth despite sector-specific challenges.

(With inputs from agencies.)