Adani Enterprises Q4 Profit Down 37% Due to Higher Costs
May 02, 2024 15:23
Adani Enterprises Ltd reported a 37% drop in Q4 profit to Rs 451 crore, driven by a surge in input costs. Learn more about the company's financial performance.
Photograph: Amit Dave/Reuters
New Delhi, May 2 (PTI) Adani Enterprises Ltd, the flagship incubator of billionaire Gautam Adani's conglomerate, on Thursday reported 37 per cent drop in March quarter net profit as cost of input materials more than doubled.
Consolidated net profit of Rs 450.58 crore in January-March 2023-24 is compared with Rs 722.48 crore net profit in the same period last year and Rs 1,888.45 crore earning in the preceding quarter, according to a BSE filing by the company.
Operating as well as cost of input materials soared during the quarter.
Revenue from operations was up at Rs 29,180.02 crore in the quarter under review from Rs 28,943.84 crore in January-March 2023.
For the full fiscal year 2023-24, net profit soared 31 per cent to Rs 3,240.78 crore. This is despite revenue from operations falling to Rs 96,420.98 crore from Rs 127,539.50 crore in 2022-23.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.