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- Adani Group Q3FY23 Results: Adani Ports, Adani Green, Ambuja Cements And Adani Transmission Q3 Results
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Adani Group has announced the results of Adani Green Energy, Adani Ports and Ambuja Cement for the third quarter (Q3FY23) ending 31 December 2022. Adani Green Energy’s net profit for the quarter stood at Rs 103 crore, up nearly 110% year-on-year. Adani Green Energy’s net profit was Rs 49 crore in the same quarter last year.
Adani Ports made a profit of Rs 1,315 crore
Adani Ports’ net profit in Q3FY23 declined 16% year-on-year to Rs 1,315 crore. Adani Ports had posted a net profit of Rs 1,479 crore in the same quarter last year. Adani Ports’ revenue from operations grew 17.5% (YoY) to Rs 4,786.17 crore in Q3FY23, as against Rs 4,072 crore in Q3 of last year.
Ambuja Cement’s net profit up 46%
Whereas in the third quarter, Ambuja Cement’s net profit increased by 46.4% year-on-year to Rs 369 crore. Ambuja Cement had posted a net profit of Rs 252 crore in the same quarter last year. Ambuja Cement’s revenue also grew by 10.5% to Rs 4,128 crore from Rs 3,735 crore in the third quarter last year.
Adani Transmission profits up 78%
A day earlier on February 6, Adani Transmission released the December quarter results. The company’s profit has increased by 78% to Rs 474.72 crore in this quarter. It was Rs 267 crore in the corresponding quarter of the previous financial year. At the same time, the company’s total revenue stood at Rs 3,551.7 crore, which is 22% higher than Rs 2,911.7 crore in the same period of the previous financial year.
The company had said that distribution losses have come down to 5.6%. Collection efficiency remained above 100%. However, the impact of increase in coal prices and power purchase cost in the recent past has been partially offset by the recovery of fuel adjustment charges in monthly billing.
Shares of Adani Ports and Ambuja Cement rose
Adani Green Energy shares today closed at Rs 844, down 5.00% ahead of third quarter results. Adani Ports gained 1.93% (Rs 10) to close at Rs 555 and Ambuja Cement gained 1.95% (Rs 7.40) to close at Rs 387.15. On the other hand, the share of Adani Transmission fell by Rs 6 to close at Rs 1,249 today.