Adani Enterprises net zooms 173%

Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, today announced consolidated net profits of Rs 928 crore for the fourth quarter ended March as against Rs 340 crore registered in the corresponding period the previous year, a growth of 173 per cent.

On a standalone basis, net profits fell 13 per cent from Rs 57.3 crore in the fourth quarter of 2009-10 to Rs 49.7 crore in 2010-11. The company’s board of directors has recommended 100 per cent dividend of Rs 1 per share on equity share of Rs 1 each for the financial year ended March.

Consolidated net sales for the fourth quarter stood at Rs 9,112 crore, up 16 per cent from Rs 7,826 crore during the fourth quarter of the previous year.

For the financial year 2010-11, consolidated net profits stood at Rs 2,476 crore, up 169 per cent from Rs 919 crore in the previous year. Net sales for the year rose two per cent to Rs 26,405 crore against Rs 25,890 crore reported in the previous year.