On 14 February 2023, Adani Enterprises Ltd reported a consolidated net profit of ₹820 crores during the third quarter of the current fiscal as compared to a net loss of ₹12 crores in the year-ago quarter.
Adani Enterprises posted a profit of ₹460 crores in the previous quarter of September 2022. Shares of Adani Enterprises bounced back from lows to trade more than 3% higher at ₹1,791.
Adani Enterprises' revenue from operations rose 42% to ₹26,612 crore in the Q3 of FY23 as compared to ₹18,758 crore in the same quarter of the last fiscal.
Adani Enterprises' total expenses surged to ₹26,171 crore versus ₹19,047.7 crore year-on-year (YoY).
According to the company, its earnings Before Interest, Taxes, Depreciation, and Amortisation (EBIDTA) increased by 101% during the quarter under review to ₹1,968 crore.
All 10 Adani stocks have dropped around 55% with investors losing Rs 10,50,700 crore.
Adani Ports was among the top large-cap stocks bought by mutual funds in January 2023.
However, mutual funds sold 1.2 crore shares of Adani Enterprises and 14.8 crore shares of Ambuja Cements.
Billionaire Gautam Adani told shareholders that the current market volatility is temporary.