Gautam Adani's Firm Doubles Net Profit in June Quarter

Adani Enterprises Ltd, led by billionaire Gautam Adani, saw its net profit more than double in the June quarter, driven by growth in its new energy business. Consolidated net profit surged 116% to Rs 1,458 crore, with major contributions from solar and wind energy divisions. The company's total income rose 13% to Rs 26,067 crore.

Gautam Adani's flagship firm, Adani Enterprises Ltd, reported more than doubling its net profit for the June quarter, driven by significant growth in new energy ventures, particularly solar and wind energy.

The company's consolidated net profit surged to Rs 1,458 crore, marking a 116% increase from the Rs 675 crore earned during the same period last year. This leap is largely attributed to the performance of Adani New Industries Ltd (ANIL), which saw a 3.6x jump in its earnings before interest, taxes, depreciation, and amortization (EBITDA) to Rs 1,642 crore.

Total income for the company rose by 13% to Rs 26,067 crore. The company's board approved the demerger of its food FMCG business, indicating strong future growth potential in its new business ventures.

(With inputs from agencies.)