Adani Enterprises '
consolidated net profit fell by 42 percent year-on-year to Rs 320 crore in the
second quarter of current financial year 2012-13 due to loss in its power
business.
Consolidated net sales increased 1.8 percent to Rs 10,262
crore from Rs 10,078 crore during the same period.
The company also earned a foreign exchange gain of Rs 130
crore in the July-September quarter as against loss of Rs 115 crore in a year
ago quarter.
Its subsidiary Adani Power
, in which Adani Enterprises holds 68 percent stake, reported a
consolidated net loss of Rs 261 crore in the same quarter as against profit of
Rs 173 crore in a year ago period, mainly due to high fuel costs as compared to
average realization on sale of power.
The board of directors of Adani Enterprises have approved
additional investment in Adani Power. After the additional investment, the stake
in Adani Power will increase to 75 percent versus 68 percent.
It’s another subsidiary Adani Ports & SEZ (wherein Adani
Enterprises holds around 77 percent stake) reported strong numbers due to good
growth in traffic led by containers. India's largest private port developer's
net profit grew by 57.35% year-on-year to Rs 429.56 crore in the second quarter
of financial year 2012-13.
In a press conference, the company said almost all major
ports handled volumes of 48 mt in first half of FY13.
At 14:00 hours IST, the stock fell 1 percent to Rs 221 on
the Bombay Stock Exchange.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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