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Adani Enterprises Ltd., the flagship company of the Adani Group reported a net loss of ₹1,160 crore in the June quarter on Wednesday, July 29. This is in comparison to a net profit of ₹885 crore that it had reported during the same quarter last year.
The net loss for the quarter is due to a one-time loss of ₹2,644 crore, which it paid as a settlement amount to the US Office of Foreign Assets Control (OFAC).
Revenue growth for the quarter stood at 50% from last year to ₹32,924 crore from ₹21,961 crore reported earlier.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at ₹5,007 crore, a growth of 17% from last year's figure of ₹4,262 crore.
EBITDA margin for the period narrowed by over 400 basis points from the same quarter last year to 15.2% from 19.4% earlier.
Shares of Adani Enterprises are trading 0.3% higher after the results announcement at ₹3,011.5. The stock has risen 33% so far this year.
The net loss for the quarter is due to a one-time loss of ₹2,644 crore, which it paid as a settlement amount to the US Office of Foreign Assets Control (OFAC).
Revenue growth for the quarter stood at 50% from last year to ₹32,924 crore from ₹21,961 crore reported earlier.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at ₹5,007 crore, a growth of 17% from last year's figure of ₹4,262 crore.
EBITDA margin for the period narrowed by over 400 basis points from the same quarter last year to 15.2% from 19.4% earlier.
Shares of Adani Enterprises are trading 0.3% higher after the results announcement at ₹3,011.5. The stock has risen 33% so far this year.
