Adani’s Flagship Firm Near Record High After 117% Profit Surge
- Revenue tripled while costs jumped, debt-equity ratio improved
- Adani Enterprises has been helming group’s foray in new areas
Gautam Adani
Photographer: Edwin Koo/BloombergThis article is for subscribers only.
Adani Enterprises Ltd.’s shares closed just short of a record high after its quarterly profit more than doubled and gave billionaire Gautam Adani’s flagship firm more firepower to boost its numerous new businesses.
The stock surged 6.8% on Friday to 3,833.25 rupees ($46.5) per share, almost touching the peak it reached in September when the company was added to the benchmark index Nifty 50. It has jumped 124% so far this year.