In Q1 FY24, Adani Green s consolidated net profit rose 51% year-on-year (YoY) to Rs 323 crore for the quarter ended June 2023. It was Rs 214 crore in the last year quarter. Its revenue from operations jumped 33% to Rs 2,176 crore for the April-June period, compared with Rs 1,635 crore in the corresponding period of last year.
Following the bulk deals, shares of Adani Enterprises ended 5.34% higher at Rs 2,403.65 on BSE while that of Adani Green ended 0.16% lower at Rs 958.40.
Adani Group has sold stakes worth ₹1,099.80 crore to US-based GQG Partners and other investors. Adani Green Energy and Adani Enterprises were the companies involved in the deal.
One of the major reasons behind investment in Adani firms, as per Rajiv would be that these companies ‘own and operate some of the largest and most important infrastructure assets throughout India and around the world.’