Adani Enterprises shares surge over 5 pc as net profit zooms eight-fold

New Delhi, Oct 30 (PTI) Shares of Adani Enterprises Ltd jumped over 5 per cent on Wednesday after the firm posted nearly an eight-fold rise in net profit in the quarter ended September 30, 2024.

The stock soared 5.11 per cent to Rs 2,986.90 on the BSE.

At the NSE, it surged 4.87 per cent to Rs 2,987.50.

Adani Enterprises Ltd — the flagship firm of billionaire Gautam Adani’s conglomerate — on Tuesday posted nearly an eight-fold rise in net profit in the September quarter on strong earnings from airports and new energy units that offset the drag from coal trading business.

Net profit of Rs 1,741 crore in July-September — the second quarter of current 2024-25 fiscal year — was up 663 per cent over Rs 228 crore earning in the same period of last year, a company statement said.

EBITDA (earnings before interest, taxes, depreciation, and amortization) was up 46 per cent at Rs 4,354 crore, while revenue rose 15 per cent to Rs 23,196 crore.

Except for the coal business, the firm’s other main businesses saw growth in both top and bottom line.