Adani Enterprises Limited (AEL), the flagship company of the Adani Group, has released its March quarter results. The company’s profit declined by two per cent to Rs 325.76 crore for the quarter ended March 31, 2022.
Earlier, its consolidated net profit in the January-March quarter of the financial year 2020-21 was Rs 332.53 crore. The company’s income increased to Rs 25,141.56 crore in the fourth quarter of 2021-22 from Rs 13,688.95 crore in the same quarter a year ago.
What is the reason: The profit of the company has come down mainly due to increase in expenses. Adani Enterprises’ expenses rose to Rs 24,673.25 crore during the quarter from Rs 13,213.95 crore in the January-March quarter of 2020-21 a year ago.
Talking about the share of Adani Enterprises, its price is at the level of Rs 2339.30. On Monday, the share price closed 0.27 percent higher on the BSE index.
Adani Wilmar’s profit declined: Earlier, Adani Wilmar’s profit fell 26 per cent to Rs 234 crore during the January-March period. Revenue from operations, however, grew 40 per cent to Rs 14,960 crore during the period.