Shares of Adani Enterprises Ltd surged over 3% on Friday after the company reported a 7.5-fold jump in its Q4 net profit, driven by stake sale gains and strong performance in solar and airport businesses.
The company’s stock rose 3.14% to ₹2,370 on the BSE, while on the NSE, it climbed 3% to ₹2,372.40.
Adani Enterprises, the flagship company of billionaire Gautam Adani’s group, reported a net profit of ₹3,845 crore for the January-March quarter, compared to ₹450.58 crore in the same period last year.
The profit surge was largely due to a ₹3,286 crore gain from the sale of stake in Wilmar, a consumer goods venture. After adjusting for this one-time gain, the company’s net profit stood at ₹1,313 crore.
The strong performance was driven by Adani’s incubator businesses, particularly solar and wind manufacturing and airports, which are expected to be the next major value creators for the group.
