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Adani Group Company Reports 70% Q3FY24 Profit Increase

The conglomerate saw a 70% rise in earnings, record-breaking cargo volumes, and a substantial gain in stock prices, despite Adani investigation on account of Hindenburg case.

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Adani Group Company Reports 70% Q3FY24 Profit Increase

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  1. Adani Group Company Reports 70% Q3FY24 Profit Increase

  2. With a whopping 67.8 percent increase, Adani Ports’ net profit reached Rs. 2,208.4 crores over the previous year. Quarterly revenue also surged remarkably, which increased to Rs. 6,920.1 crores from Rs. 4,786.1 crore the prior year, a 44.6% increase. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased from 2,698 crores to 4,292 crores, a 60% increase. This is a good development in light of the Adani investigation.

  3. 600 Basis Points EBITDA Margin Increase, Record-Breaking Cargo Volumes, and a 165% Surge in Stock Value An increase of 600 basis points brought the EBITDA margin up to 62% from 56% the year before. With a record-breaking delivery of 300 million metric tons (MMT) in only 266 days, the firm achieved an outstanding 42% rise in cargo volumes for December 2023. The company’s cargo handling during the first nine months of the financial year 2024 was 311 MMT, representing a significant 23% gain compared to the previous year.

  4. Stock Market Rebound: Optimism among Investors and the Market • Adani Group’s strong financial performance in the third quarter of fiscal year 2024 which is the main reason for the stock price increase. The record-breaking freight volumes and significant rise in earnings are clear signs of the conglomerate’s strong financial position and potential for expansion. • Adani Group’s diverse business portfolio is one of the main reasons investors believe in the company. Investors like the conglomerate’s diversification strategies because they reduce the dangers of being too dependent on any one business.

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