Two companies of billionaire Gautam Adani announced their quarterly results on Monday. The profits of both these companies have increased in the April-June quarter. While on one hand Adani Total Gas’s profit has jumped, on the other hand Adani Wilmar has performed brilliantly and has come out of loss and turned profitable. After this, the company’s stock jumped by 7 percent.
Strong profit of Rs 313 crore
Asia’s second richest man and Adani Group chairman Gautam Adani has 10 companies listed in the stock market. The first quarter results of FMCG company Adani Wilmar were announced on Monday. The company said in a stock exchange filing that Adani Wilmar had suffered a loss of Rs 79 crore in the same quarter last year, but in the June 2024 quarter, this loss has turned into profit and a profit of Rs 313 crore has been recorded.
Revenue increased and reached here
Adani Wilmar’s revenue has also registered a strong increase and on an annual basis, it has increased by 10 percent from Rs 12,928 crore last year to Rs 14,169 crore. Talking about EBITDA, it has increased from Rs 131 crore to Rs 619 crore year-on-year. The report quoted the company’s MD-CEO Angshu Malik as saying that ‘We have achieved another strong quarter with double-digit growth in both edible oils and food and FMCG sectors.’
The effect of the result was visible on the share
As soon as Adani Wilmar informed in the stock exchange filing that the company has now turned profitable from loss, then suddenly Adani Wilmar Share started running at rocket speed. This Adani stock started trading at Rs 328, while after the Q1 results were announced, it rose by 7 percent to reach the level of Rs 349.70. However, at the close of trading in the stock market, it fell marginally and closed at Rs 344.80 with a gain of 6.04 percent.
Adani Total also remained in profit
Along with Adani Wilmar, Gautam Adani’s company ADANI Total Gas also announced its quarterly results on Monday. According to the filing, Adani Total Gas’s profit has increased in the first quarter. The company’s consolidated profit has jumped from Rs 150 crore to Rs 172 crore. The company’s income has also increased from Rs 1056 crore in June 2023 to Rs 1,145.4 crore in April-June 2024.
Talking about Adani Total Gas Share, it also closed on the green mark with a rise. The company’s stock started trading at Rs 900 and after the announcement of the results, it suddenly jumped by about 2 percent to Rs 924.40. However, the shares of this Adani firm with a market cap of Rs 98,210 crore closed at Rs 891.90 at the end of trading.
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