Stock market today: Adani Enterprises share price jumps 5% after Q2 results 2024

Stock market today: Adani Enterprises share price jumped nearly 5% on Wednesday after the company reported its Q2 results. Adani Enterprises shares gained as much as 4.98% to ₹2,980.60 apiece on the BSE.

Adani Enterprises, the flagship company of Adani Group, reported a 664% jump in its consolidated net profit at ₹1,742 crore for the quarter ended September 2024, compared to ₹228 crore in the same period last fiscal year.

Adani Enterprises Q2 results 2024

The company’s operational revenue in Q2FY25 increased 16% to ₹22,608 crore from ₹19,546 crore, year-on-year (YoY).

EBITDA during the September quarter rose by 46% YoY to ₹4,354 crore, led by the sustained strong operational performance of the Adani New Industries Ltd (ANIL) ecosystem and Airports.

Adani Enterprises also announced plans to raise ₹2,000 crore through the issuance of non-convertible debentures (NCDs). According to the company, these NCDs will be offered in one or more tranches via a public issue.

Adani Enterprises also announced that it canceled the demerger plan of its food FMCG business to Adani Wilmar. 

“The Board at the said Meeting has decided to withdraw the draft Scheme of Arrangement among Adani Enterprises Limited and Adani Wilmar Limited and their respective shareholders & creditors (“draft Scheme”) that was approved by the Board in their meeting held on 1st August, 2024,” Adani Enterprises said in a regulatory filing. 

Adani Enterprises Stock Price

Adani Enterprises stock price has fallen 5% in one month, but has gained more than 4% year-to-date (YTD). The Adani Group stock has risen more than 29% in one year and has given multibagger returns of over 109% in three years.

At 12:05 PM, Adani Enterprises shares were trading 4.77% higher at ₹2,977.10 apiece on the BSE.