On Thursday, Adani Enterprises Ltd. revealed a notable boost in its year-over-year (YoY) earnings for the third quarter (Q3 FY24). The company reported a 130% increase in consolidated profit from Rs 820 crore during the same time in the previous fiscal year to Rs 1,888 crore for Q3 of FY24.

The Adani Group's main company recorded a 6.48 percent growth in operating revenue in Q3 FY24, from Rs 26,612 crore to Rs 28,336 crore, compared to the same time the previous year. The stock rose 3.04 percent after the quarterly results were announced, hitting a one-year high of Rs 3,236.55.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 70% for Adani's main coal trading company to Rs 1,464 crore, while Adani New Energy saw a 194% growth to Rs 67,300 crore. Adani Enterprises stated that the division's EBITDA grew as a result of higher margins and volumes in coal trading, despite a drop in coal prices.

Higher profits were attributed by the corporation to effective expense control. Its overall costs increased by 1%.

The promoters owned 72.61% of the company as at December 2023. Today's trading volumes for the stock were significant, with 1.70 lakh shares changing hands on the BSE. The amount exceeded the 1.52 lakh share two-week average volume. With a market capitalization (m-cap) of Rs 3,59,356.85 crore, the counter saw turnover of Rs 53.67 crore.