Adani Group: These companies of Adani are making huge profits, will the action be seen in the stock market?
ACC Ltd Q2 Result: The company said that this is ACC's highest revenue in the last five years. The company's total expenditure in the last quarter was Rs 4,452.73 crore while in the same period a year ago it was Rs 4,127.11 crore.
Adani Total Gas Q2 Result: Three companies of Adani Group released the results of the second quarter on Thursday. In the results released by the companies, the profit of Adani Total Gas increased by 6 percent. Adani Wilmar's profit saw more than double increase. Apart from this, ACC has made a profit of Rs 200 crore. After these news, the shares of the companies saw a rise. Now it remains to be seen whether this rise continues on Friday amid the falling market.
Profit up 6% to Rs 178 crore
The net profit of Adani Total Gas Limited, a joint venture (JV) of Adani Group and French power sector giant Total Energies, has increased by six percent to Rs 178 crore in the current July-September quarter. Its net profit was Rs 168 crore in the same quarter of the last financial year (2023-24). The reason for the increase in profit was the benefit of reduction in gas prices due to good increase in the supply of CNG and piped cooking gas (PNG).
Operational income increased by 12 percent to Rs 1315 crore
Due to higher sales during the period under review, the company's operational income increased by 12 percent to Rs 1,315 crore. ATGL CEO Suresh P. Mangalani said, "Now we provide services to more than nine lakh consumers through pipes without any interruption. We have started our first LNG station for the transport sector." The company's stock closed at Rs 755.25 with a rise of about 8 percent on Thursday. Its 52-week high is Rs 1,259.90.
Adani Wilmar came from loss to profit
On the other hand, the integrated profit of Adani Wilmar Limited stood at Rs 311.02 crore in the quarter ended September of the current financial year. The company's profit has increased mainly due to increase in income. The company had a loss of Rs 130.73 crore in the second quarter of the financial year 2023-24. The JV company of Adani Group and Singapore's Wilmar said in a notice to the stock market that its total income increased to Rs 14,565.30 crore in the quarter ended September 2024. The company's stock saw a rise of about 7 percent and closed at Rs 340.30.
ACC Limited also benefited
Apart from this, cement manufacturing company ACC Limited has earned an integrated net profit of Rs 199.7 crore in the second quarter. ACC Limited had earned a net profit of Rs 387.88 crore in the same period of the previous financial year. ACC's operating revenue in the quarter under review was Rs 4,613.52 crore, while in the same period a year ago it was Rs 4,434.73 crore. This is its highest revenue in the last five years. The total expenditure of the company in the last quarter was Rs 4,452.73 crore, while in the same period a year ago it was Rs 4,127.11 crore. The company's stock closed at Rs 2265.60 with a gain of Rs 8.