INVC News
Mumbai: Three Adani Group companies announced their Q2 earnings on Thursday, showcasing notable growth. Adani Total Gas recorded a 6% profit increase, while Adani Wilmar’s profits more than doubled. Additionally, ACC posted a gain of ₹200 crore. This news spurred positive movement in their stocks, though it remains to be seen if this momentum holds in a declining market on Friday.
Adani Total Gas: 6% profit growth to ₹178 crore
Adani Total Gas Limited, a joint venture between the Adani Group and France’s energy leader TotalEnergies, reported a 6% increase in net profit for the July-September quarter, reaching ₹178 crore, up from ₹168 crore in the same period of FY 2023-24. The growth was largely attributed to improved CNG and PNG supply and cost benefits from reduced gas prices. Operational income grew by 12%, reaching ₹1,315 crore due to higher sales volume. CEO Suresh P. Manglani commented, “We now serve over nine lakh customers seamlessly through pipeline delivery and have inaugurated our first LNG station for transportation.” On Thursday, Adani Total Gas shares surged by nearly 8% to close at ₹755.25, with a 52-week high of ₹1,259.90.
Adani Wilmar: From loss to profit
Meanwhile, Adani Wilmar Limited recorded an integrated profit of ₹311.02 crore for the quarter ending September this fiscal year. Increased revenue primarily drove this gain. The company had reported a loss of ₹130.73 crore during the same quarter in FY 2023-24. The Adani-Wilmar joint venture stated that total revenue for the quarter ending September 2024 rose to ₹14,565.30 crore. Adani Wilmar shares climbed approximately 7% to close at ₹340.30.
ACC Limited: Strong Q2 profits
ACC Limited, a cement producer, achieved an integrated net profit of ₹199.7 crore in Q2, compared to ₹387.88 crore in the previous year’s corresponding period. Operating revenue for this quarter stood at ₹4,613.52 crore, a five-year high, compared to ₹4,434.73 crore a year prior. Total expenditure for this quarter was ₹4,452.73 crore, up from ₹4,127.11 crore in the same period last year. ACC’s stock rose by ₹8 to close at ₹2,265.60.
