This week’s Q4 results: Adani Enterprises, Adani Wilmar, Adani Green Energy, Adani Total Gas, Ambuja Cements, and NDTV are the six firms under the Adani group that will soon release their Q4FY23 financial results.
This week’s Q4 results: Market watchers and retail investors alike are keenly awaiting the fourth quarter results of the Adani group companies during earnings season, particularly in light of the Hindenburg Research report’s concerns regarding the debt positions of Adani group companies. The Q4 results of the Adani group firms are especially crucial since they will provide a clear fundamental picture of the business following the recent sell-off following charges made by US short sellers.
Adani Green Energy, NDTV, Adani Total Gas, Ambuja Cements, Adani Wilmar, and Adani Enterprises, six of the ten Adani Group firms, will release their Q4 earnings this week. Out of these six Adani group companies, the Q4 results for Adani Green Energy and NDTV are anticipated today, while those for Adani Total Gas and Ambuja Cements are anticipated on Tuesday, May 2, 2023. The fourth quarter results for Adani Wilmar will be released on May 3, 2023, a Wednesday, while the fourth quarter results for Adani Enterprises will be released on May 4, 2023, a Thursday.
Results for Q3 from Adani Enterprises
Adani Enterprises Ltd. recorded a consolidated net profit (attributable to the company’s shareholders) of $820 billion in Q3FY23 figures, up from a net loss of $12 billion in the same quarter of the previous fiscal year. In the September 2022 quarter prior, it had reported a profit of 460 crore. On Friday, NSE shares of Adani Enterprises closed at 1,922 each.
Results for Q3FY23 at Adani Wilmar
Adani Wilmar Ltd. recorded a 16.5% increase in its Q3 consolidated net profit at 246 crores as compared to 211 crores in Q3FY22 for the quarter that ended in December in FY23. In comparison to the same quarter previous year, the company’s operating revenue increased by 7% to 15 438.05 crore from 14 370.92 crore.
Q3 results for Ambuja Cements in 2023
As fuel prices decreased and demand increased, Ambuja Cement, which is now a part of Adani Cement, reported a 46% increase in standalone net profit at 368.99 crore for the quarter ended December 31, 2022 (Q4FY23). In the comparable period of the previous year, the net profit was 252.81 crore. The company’s operating revenue for the quarter under review increased by 10% from the same quarter last year to 4,128.52 crores (the company’s fiscal year runs from January to December).
