Shares of Adani group firms Adani Enterprises Ltd and Adani Power Ltd will be in focus on Friday morning after the two companies reported surge in June quarter profits. While Adani Enterprises clocked a 44 per cent jump in bottom line growth, profit for Adani Power surged 83 per cent for the quarter. Revenue for Adani Power rose 17 per cent for the quarter but fell 37 per cent for Adani Enterprises.
Shares of Adani Enterprises are up 61 per cent in the last six months. Adani Power stock has delivered 51 per cent return during the same period.
While announcing Adani Enterprises quarterly results, Chairman Gautam Adani said his company's expertise in executing large-scale projects such as Kutch Copper, Navi Mumbai Airport, the certification of India's first 5 MW onshore wind turbine, coupled with its O&M capabilities are fundamental drivers that continue would accelerate its infrastructure journey.
Adani Enterprises reported an operating margin of 9.92 per cent in Q1 against 4.27 per cent in the year-ago period. The figure stood at 11.44 per cent in the March quarter. Its profit print stood at Rs 673.93 crore against Rs 469.46 crore YoY while its total income fell to Rs 25,809.94 crore from Rs 41,066.43 crore YoY.
In the case of Adani Power, the company commissioned 1,600 MW Godda USCTPP, which saw full load power supply to Bangladesh under the 1,496 MW (Net) Power Purchase Agreement (PPA) with the Bangladesh Power Development Board.
"The Godda Power Plant is a shining example of India-Bangladesh cooperation. It marks the Adani Group's entry into transnational power projects and is India's first commissioned transnational power project where 100 per cent of the generated power is supplied to another nation," it Adani Power said.
This Adani group firm logged a profit of Rs 8,759 crore against Rs 4,780 crore YoY. Adani Power's total revenue rose to Rs 18,109 crore from Rs 15,509 crore YoY. The company achieved an average consolidated plant load factor (PLF) of 60.10 per cent and sales of 17.5 Billion Units (BU) on an installed capacity of 15,250 MW in the June quarter. This was in comparison to consolidated PLF of 58.60 per cent and sales volume of 16.3 BU on an installed capacity of 13,650 MW in the year-ago quarter.
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