Adani Enterprises Q4 net up 21%; to raise Rs 1,500 cr via QIP

Gautam Adani-led Adani Enterprises today reported 20.81 per cent growth in consolidated net profit at Rs 166.05 crore for the fourth quarter ended March 31, 2009.

The company said it would raise up to Rs 1,500 crore through a private placement of securities to institutional investors.

In a filing to the Bombay Stock Exchange, the company said it would allot securities of Rs 1,500 crore to qualified institutional buyers, pursuant to a qualified institutional placement (QIP).

The firm had a net profit of Rs 137.45 crore in the March quarter of FY08.

Total income rose 31 per cent to Rs 8,676.62 crore during the March quarter from Rs 6,625.65 crore in the corresponding period a year ago.

The board has declared a dividend of 100 per cent at the rate of Rs one for the financial year ended March 31.

For the fiscal year ended March 2009, Adani Enterprises posted a 36.49 per cent jump in consolidated net profit at Rs 504.65 crore. It had a net profit of Rs 369.74 crore in FY08.

Consolidated total income rose 33.71 per cent to Rs 26,272.92 crore during the financial year ended March 2009, from Rs 19,648.71 crore in the previous fiscal.