After Adani Green Energy and NDTV, at least four additional publicly traded Adani group companies will announce their quarterly results within the next three days. Adani Total Gas and Ambuja Cements, two subsidiaries of the Adani group, will release their quarterly results on Tuesday. The boards of Adani Total Gas Ambuja Cements will also examine any dividend recommendation for FY23 on the company’s equity shares.
Wednesday, Adani Wilmar will release its quarterly results. The results would be released during market hours, as a conference call with CEO and managing director Angshu Mallick and chief financial officer Shrikant Kanhere is scheduled for 3 p.m. that day.
Adani Enterprises, the flagship of the Adani group, will release its quarterly results on Thursday, May 4. The board would also evaluate a dividend proposal. Adani Ports & SEZ, Adani Power, Adani Transmission, and ACC have yet to release their quarterly financial results.
Adani Green Energy, Q4 Results
In a late-night release on Monday, Adani Green Energy reported a multifold increase in quarterly profit, from Rs 121 crore to Rs 507 crore for the March quarter. Total revenue for the quarter increased by 88.27% YoY, from Rs 1,587 crore to Rs 2,988 crore. When presenting its quarterly and annual results, Adani Green Energy attributed the robust growth in revenues, Ebitda, and cash profit primarily to the addition of 2,676 MW of capacity.
Also, the Supreme Court upheld the favorable order from APTEL for 288 mw solar plants at Kamuthi in Tamil Nadu, resulting in a one-time revenue advantage of Rs 748 crore (including late payment surcharge) and a recurring positive annual impact of Rs 90 crore, according to Adani Green.
New Delhi Television (NDTV), an additional Adani group company, reported a 97.5% decline in net profit (attributable to proprietors) to Rs 59 lakh for the quarter ending on March 31, 2023, due to a decline in advertising demand. It reported a net profit of Rs 24.16 crore during the same period last year.
The media company’s Q4FY23 operating revenue decreased by 35.5% to Rs 67 crore from Rs 104 crore in the prior-year period due to a “slowdown in global advertising spending.”
In the meantime, Sebi, which is investigating allegations made by foreign short-seller Hindenburg Research, petitioned the Supreme Court for additional time to complete its investigation. In a statement, the Adani group said that it “welcomes the investigation, which represents an equitable opportunity for all parties to be heard and all issues to be addressed.
We adhere to all laws, rules, and regulations and are confident that the truth will triumph. We will continue to provide Sebi with our complete support and cooperation,” the statement said.