Adani Enterprises turns volatile after Q2 results

Adani Enterprises fell 0.32% to Rs 483.90 at 13:51 IST on BSE after reporting a consolidated net profit of Rs 210.29 crore in Q2 September 2014 compared with net loss of Rs 416.95 crore in Q2 September 2013.

The result was announced during trading hours today, 12 November 2014.

Meanwhile, the BSE Sensex was up 138.71 points, or 0.50%, to 28,048.77.

On BSE, so far 4.73 lakh shares were traded in the counter, compared with an average volume of 2.31 lakh shares in the past one quarter.

The counter turned volatile after result announcement. The stock rose 1.25% at the day's high of Rs 491.50. The stock fell 2.80% at the day's low of Rs 471.85 so far during the day.

The stock hit a 52-week high of Rs 585 on 16 May 2014. The stock hit a 52-week low of Rs 210.40 on 14 February 2014.

The stock had underperformed the market over the past one month till 11 November 2014, rising 5.26% compared with 6.13% rise in the Sensex. The scrip had also underperformed the market in past one quarter, rising 1.22% as against Sensex's 9.37% rise.

The large-cap company has an equity capital of Rs 109.98 crore. Face value per share is Re 1.

On a consolidated basis, Adani Enterprises' total income rose 1.83% to Rs 14265.72 crore in Q2 September 2014 over Q2 September 2013.

The consolidated EBITDA (earnings before interest, taxes, depreciation and amortization) increased by 53% to Rs 3,041 crore in Q2 September 2014 over Q2 September 2013.

Commenting on the results, Mr Gautam Adani, Chairman Adani Group, said, "The policy measures announced by the new Government to address the structural issues impacting infrastructure and energy sectors will revive investment in the sectors. We remain committed to our investment programme across Resources, Logistics and Energy verticals to cater to the increasing demand in the Country."

Mr Ameet Desai, Group Chief Financial Officer, Adani Group, said, "Our results are testimony of the intrinsic strength of our integrated business model with substantial contribution from Coal trading, Ports & Logistics and Power businesses. With the measures for easing financing to the infrastructure projects coupled with enhanced operational efficiencies, we expect further boost to our financial performance."

The Adani Group has grown to become a global integrated infrastructure player with businesses in key industry verticals - resources, logistics and energy. The integrated model is well adapted to the infrastructure challenges of the emerging economies.

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