Adani’s Company’s Profit Fell by 96 Percent…

Adani's Company's Profit Fell by 96 Percent…

Adani: Two New Adani Companies In Nifty Main Index..
Adani: Two New Adani Companies In Nifty Main Index..

Adani Power: The companies owned by the legendary industrialist Gautam Adani are showing a dismal performance in the third quarter of the current financial year. It is noteworthy that the net profit of Adani Power Company fell by 96 percent. It is known that recently the profit of Adani Ports has also declined.

Adani Power: Indian power and energy company Adani Power, part of the Adani Group, on Wednesday announced its third quarter results. Net profit fell 96 percent on a consolidated basis in the quarter ended December 2022. While the profit of Adani Power in the same quarter of the previous financial year was recorded at Rs.218.5 crore, now it is limited to Rs.8.7 crore which is a matter of concern.
Despite a huge decline in results in the third quarter, net profit increased by 401.6 percent in the previous quarter. Then simultaneously announced a profit of Rs.695.53 crores. The profit in the second quarter of the previous financial year was Rs.230.6 crore.
And now Adani Power Company’s operations revenue has increased by 44.8 percent to Rs.7,764.4 crore. In the previous year it was Rs.5,360.9 crore. Although Adani Power has disappointed in its quarterly results, today the stock market is in the upper circuit.

It increased by 5 percent and settled at Rs.182. Adani Power is also one of the multibagger stocks in 2022. It is remarkable that it has given 200 percent returns in the recent past.
In the wake of the sensational allegations of American short-selling company Hindenburg… the shares of Adani Group companies have fallen heavily in recent times. The market value has fallen by more than half. And Adani’s personal wealth has also fallen by more than half.

In the same sequence, he went from the third position in the list of the world’s Richest and lost his place in the top-20 at one stage. Adani stocks have recently returned to the top-20 on the back of a rebound. He is currently on the 17th position.


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