Ports-to-energy conglomerate Adani Enterprises has posted around 53 percent year-on-year jump in its March quarter profit to Rs 474 crore on an one-time gain of Rs 444.7 crore. Total income of the company grew over 8 percent YoY to Rs 11513 crore.
According to the statement filed on the exchanges, the flagship company of the Ahmedabad-based Adani Group said, it expenses towards purchases of stock-in-trade increased by over 169 percent YoY to Rs 2,560 crore.
Its interest cost also went up 2.23 times to Rs 988 crore YoY.
For FY13, The firm has posted 12 percent YoY decline in profit to Rs 1613 crore Total income grew 19 percent YoY to Rs 47,352 crore.
The company management has blamed its power segment for drop in Q4 profit and has assured that it is trying to overcome structural bottleneck of coal availability, increased prices and constraints on power evacuation.
Going ahead, the company expects volume growth to continue in the current financial year.
The Board has approved the re-appointment of Gautam Adani as the executive chairman of the company for a further period of five years with effect from December 01, 2013, subject to the approval of members, the company informed.
Shares of the company rose around 4 percent to Rs 244.40 post earnings announcement.
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