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Adani Flagship's Worst Profit Fall in 3 Yrs
Mint Kolkata
|January 31, 2025
Adani Enterprises Ltd, the flagship company of the Adani Group, on Thursday reported its biggest quarterly profit slump in three years for the third quarter, as a fall in power demand weighed on its key coal trading division.
The firm's consolidated net profit declined to ₹57.83 crore ($6.68 million) in the December quarter, from ₹1,888 crore a year earlier. This was Adani Enterprises' worst quarterly profit fall since the quarter ended 31 December 2021 when it swung to a loss.
Its shares fell as much as 5% to the lowest since 27 November after the results and were among top losers in the benchmark Nifty 50 index, which was up 0.2%.
Last November, US authorities had accused its founder Gautam Adani and other executives of being part of a scheme to pay bribes to secure Indian power supply contracts. The group has denied the allegations.
यह कहानी Mint Kolkata के January 31, 2025 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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