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Adani Group: Three companies of Adani (Adani ) Group released their second quarter results on Thursday. In the results released by the companies, Adani Total Gas’ profit increased by 6 percent. Adani Wilmar’s profit more than doubled. Apart from this, ACC has made a profit of Rs 200 crore. After these news, the shares of the companies saw a rise. Now it remains to be seen whether this rise continues on Friday amid the falling market.
Profit up six percent to Rs 178 crore
The net profit of Adani Total Gas Limited, a joint venture (JV) of Adani Group and French power sector giant Total Energies, has increased by six percent to Rs 178 crore in the current July-September quarter. Its net profit was Rs 168 crore in the same quarter of the last financial year (2023-24). The reason for the increase in profit was the benefit of reduction in gas prices due to good increase in the supply of CNG and piped cooking gas (PNG).
Operational income increased by 12 percent to Rs 1315 crore
The company’s operational income increased by 12 percent to Rs 1,315 crore due to higher sales during the period under review. ATGL CEO Suresh P. Mangalani said, ‘Now we provide services to more than nine lakh consumers seamlessly through pipes. We have started our first LNG station for the transportation sector.’ The company’s stock closed at Rs 755.25 on Thursday, a day earlier, with a gain of about 8 per cent. Its 52-week high is Rs 1,259.90.
Adani Wilmar turns from loss to profit
On the other hand, the integrated profit of Adani Wilmar Limited stood at Rs 311.02 crore in the quarter ended September of the current financial year. The company’s profit has increased mainly due to increase in income. In the second quarter of the financial year 2023-24, the company had a loss of Rs 130.73 crore. The JV company of Adani Group and Singapore’s Wilmar said in a notice to the stock market that its total income increased to Rs 14,565.30 crore in the quarter ended September 2024. The company’s stock saw a rise of about 7 percent and closed at Rs 340.30.
ACC Limited also benefited
Apart from this, cement producing company ACC Limited has earned an integrated net profit of Rs 199.7 crore in the second quarter. ACC Limited had earned a net profit of Rs 387.88 crore in the same period of the previous financial year. ACC’s operating revenue in the quarter under review was Rs 4,613.52 crore, while in the same period a year ago it was Rs 4,434.73 crore. This is its highest revenue in the last five years. The company’s total expenditure in the last quarter was Rs 4,452.73 crore, while in the same period a year ago it was Rs 4,127.11 crore. The company’s stock closed at Rs 2265.60 with a gain of Rs 8.
