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Adani ENterprise

Adani Enterprises reported a 50.5% rise in Q4 net profit to ₹283 crore, though EBITDA fell 5%. Revenue increased 36% to ₹13,237 crore. Gautam Adani said the company focuses on incubating future businesses and building infrastructure. The board recommended a dividend of ₹0.40 per share and reappointed Rajesh Adani and Pranav Adani as directors. The company plans to raise ₹5,000 crore subject to shareholder approval.

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125 views1 page

Adani ENterprise

Adani Enterprises reported a 50.5% rise in Q4 net profit to ₹283 crore, though EBITDA fell 5%. Revenue increased 36% to ₹13,237 crore. Gautam Adani said the company focuses on incubating future businesses and building infrastructure. The board recommended a dividend of ₹0.40 per share and reappointed Rajesh Adani and Pranav Adani as directors. The company plans to raise ₹5,000 crore subject to shareholder approval.

Uploaded by

dheeraj taneja
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Adani Enterprises profit surges over 50%

Mulls raising ₹5,000 crore; board recommends dividend of ₹0.40 per share
Special Correspondent for a further period of five
MUMBAI <
> Our endeavour is
to establish years with effect from June
Adani Enterprises Limited businesses of the 10, 2020 and Pranav V. Adani
(AEL), the flagship firm of future, creating as an executive director, de-
the Adani Group, reported a signated as a director of the
more value for
50.5% rise in consolidated company, for a further pe-
net profit to ₹283 crore for stakeholders riod of five years with effect
Gautam Adani
the fourth quarter. chairman, Adani Group
from April, 2020.
The rise in profit came on Mr. Rajesh Adani is the
a 36% increase in revenue to last two years by demerger brother of executive chair-
₹13,237 crore even as EBID- of renewable generation and man Gautam Adani.
TA for the quarter fell 5% to city gas distribution busi- The board has also ap-
₹943 crore. nesses,” said the company in pointed Mr. Jugeshinder
Commenting on the re- Gautam Adani a statement. Singh as chief financial offic-
sults, Gautam Adani, chair- The AEL board has re- er and key managerial per-
man, Adani Group said, establish businesses of the commended a dividend of sonnel of the company with
“Adani Enterprises conti- future, creating better value ₹0.40 per equity share of effect from Wednesday.
nues to focus on incubating for the stakeholders in long face value of ₹1 each fully The company plans to
businesses of national im- term.” For FY19, the compa- paid up for FY19 subject to raise ₹5,000 crore and will
portance, building second ny’s net profit fell 5% to ₹717 approval by the sharehol- seek shareholders’ approval
generation infrastructure crore and EBITDA fell 3% to ders of the company. for an enabling resolution to
and utilities. A stable govern- ₹2,541 crore, even as reve- raise the funds.
ment emphasising on policy nue increased by 12% to Reappointed to board AEL shares fell 1.43% to
initiatives paves the way for ₹40,379 crore. The board has reappointed ₹155.3 on the BSE in a weak
growth opportunities across “Shareholders’ value in- Rajesh S. Adani as a manag- Mumbai market on Wednes-
sectors. Our endeavour is to creased by a CAGR of 65% in ing director of the company day.

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