Adani Enterprises AGM 2022: Group Chairman Gautam Adani Addresses Shareholders. WATCH
Adani Enterprises has announced its financial result for the first quarter of this financial year (Q1FY23)
Adani Group chairman Gautam Adani will be addressing shareholders at the Annual General Meeting (AGM) on Tuesday from 10.05 am. Adani Group is constituted of seven publicly listed entities with a combined market capitalization in excess of $201.01 billion with businesses spanning across energy, ports & logistics, mining & resources, gas, defence & aerospace and airports sectors.
Adani Enterprises, the flagship company of the group, has seen its stock climbing more than 75 per cent in the last year whereas, in the last five years, it has delivered more than 1,700 per cent return to its shareholders, reported Mint.
The billionaire aims to become the world's largest producer of green energy and has said he will invest up to $70 billion in renewable energy projects.
Adani Enterprises has announced its financial result for the first quarter of this financial year (Q1FY23). In the last quarter, Q4FY22, the company made a net profit of Rs 304 crore, 30 per cent higher as compared to the same quarter in FY21.
EBITDA rose 44 per cent to Rs 1,538 crore in Q4FY22 year-on-year (YOY). In the previous quarter, Q3FY22, the company recorded a net loss of Rs 12 crore. This was mainly due to a slowdown in EBITDA, which rose only 4 per cent to Rs 977 crore year-on-year.
Billionaire Gautam Adani has climbed to the fourth spot on the Forbes world’s richest list, surpassing Microsoft founder Bill Gates who last week said that he would be donating $20 billion from his wealth to his non-profit.
The Adani Group will also participate in the upcoming spectrum auction starting today. The EMD amount of Adani Data Networks is at Rs 100 crore, which indicated a muted and limited spectrum demand from its side.
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