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Adani Enterprises on Thursday said its consolidated net profit plunged 72 per cent to Rs 80.09 crore in December quarter 2018, on account of higher expenses.
The company had clocked Rs 286.97 crore profit during the same quarter a year ago, Adani Enterprises said in a Bombay Stock Exchange (BSE) filing.
Total income of the company rose to Rs 10,548.14 crore in the latest quarter from Rs 9,465.55 crore in October-December 2017.
Total expenses also jumped to Rs 10,443.76 crore from Rs 9,241.61 crore in December quarter 2017.
“This new year, we have entered into new sectors — petrochemical and technology, which will enhance Adani Enterprises’ endeavour in Make in India movement. Our focus on building global scale India-centric businesses would enable us to create value for our stakeholders,” Adani Group Chairman Gautam Adani said.
Adani Enterprises, the flagship company of Adani Group, has a diversified business portfolio comprising integrated coal management and coal mining, agri-storage infrastructure and services as well as edible oil business.
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