Two companies of billionaire Gautam Adani announced their quarterly results on Monday. The profits of both these companies have increased in the April-June quarter. While on one hand there has been a jump in the profit of Adani Total Gas, on the other hand Adani Wilmar has come out of loss and has come into profit with excellent performance. After this the company’s shares jumped by 7 percent.
Huge profit of Rs 313 crore
Gautam Adani, Asia’s second richest person and chairman of Adani Group, has 10 companies listed in the stock market. The first quarter results of FMCG company Adani Wilmar, which is included in these, were announced on Monday. It was told in the stock exchange filing by the company that Adani Wilmar had suffered a loss of Rs 79 crore in the same quarter last year, but in the June 2024 quarter, this loss has been converted into profit and the profit has been recorded at Rs 313 crore. .
Revenue increased to reach here
There has also been a strong increase in the revenue of Adani Wilmar and on an annual basis it has increased by 10 percent from Rs 12,928 crore last year to Rs 14,169 crore. Talking about EBITDA, it has increased from Rs 131 crore to Rs 619 crore year-on-year. The report quoted the company’s MD-CEO Angshu Malik as saying, ‘We have achieved another strong quarter with double-digit growth in both edible oils and food and FMCG segments.’
Effect of result visible on shares
As soon as Adani Wilmar informed in the stock exchange filing that the company has now turned from loss to profit, suddenly Adani Wilmar Share started running at the speed of rocket. This Adani stock started trading at Rs 328, while after the announcement of Q1 results, it reached the level of Rs 349.70 with a rise of 7 percent. However, at the close of trading in the stock market, it fell marginally and closed at Rs 344.80 with a rise of 6.04 percent.
Adani Total also remained profitable
Along with Adani Wilmar, Gautam Adani’s company ADANI Total Gas also announced its quarterly results on Monday itself. According to the filing, Adani Total Gas has registered an increase in profit in the first quarter. The consolidated profit of the company has jumped from Rs 150 crore to Rs 172 crore. The company’s income has also increased from Rs 1056 crore in June 2023 to Rs 1,145.4 crore in April-June 2024.
Talking about Adani Total Gas Share, it also closed sharply in the green. The company’s stock started trading at Rs 900 and after the announcement of the results suddenly jumped by about 2 percent to reach Rs 924.40. However, shares of this Adani firm with a market cap of Rs 98,210 crore closed at Rs 891.90 at the end of trading.
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