BENGALURU (Reuters) – India’s Adani Enterprises on Thursday reported a quarterly revenue that greater than doubled, helped by sturdy efficiency at its built-in assets administration and airports divisions.
The corporate’s consolidated revenue rose to 4.61 billion Indian rupees ($55.60 million) for the second quarter ended Sept. 30, from 2.12 billion rupees a yr earlier.
Income from operations of the flagship firm of coal-to-cooking oil conglomerate Adani Group almost tripled to 381.75 billion rupees in the course of the reported quarter.
The built-in assets administration division, mainstay section for the corporate, noticed income greater than triple to 304.35 billion rupees, helped by sturdy volumes and improved costs.
The Adani Group, led by Asia’s richest particular person Gautam Adani, is seeking to increase its presence in energy era and infrastructure and ventured into cement-making operations earlier this yr.
Adani Enterprises, which entered the Nifty 50 inventory index on the finish of September, acts as an incubator for brand new companies launched by the Adani Group.
Shares of Adani Enterprises, which can also be the biggest personal coal provider in India, have greater than doubled to this point this yr.
($1 = 82.9150 Indian rupees)
(Reporting by Nallur Sethuraman in Bengaluru; Modifying by Shailesh Kuber)
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