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Adani Company's Profits Just 9 Crores, Seriously?
By: Tupaki Desk | 9 Feb 2023 11:49 PM IST
We all know how the value of the shares of Adani Group fell massively due to the outrage created by the report issued by Hindenburg. It is not easy to come out of such disasters usually. It will take around two to three months to sort out the issue.
But Adani's case is not easy, right? Despite the massive downfall in the shares of Adani Group, the recovery is underway. Though the rate is not that heart slowly it is recovering.
Amid this Adani Power, the Power and Energy company that belongs to Adani company announced the outcome of the third quarter on Wednesday. Shocking aspects were mentioned in the report.
In the same trimester last year, Adani Power reported a profit of massive Rs 218.5 crores. But the profit was restricted to 8.7 crores in profits. This surprised many. For the past few days, the prices of shares have been falling massively. Amid this, the profits recorded in big numbers raised many concerns.
The value of the shares which was Rs 432 on August 22nd last year is now trading between Rs 172-174. Before the Hindenburg report the share value stood at Rs 274. But the value has been decreasing further and stood at the last in 52 weeks. The recent report hints that there might be a negative impact.
Compared to the third semester, the net profit increased by 401 percent in the second semester. The company which announced Rs 695.5 crores profit now announced that the profits fell massively. We have to say that the semester results are not that great.
But Adani's case is not easy, right? Despite the massive downfall in the shares of Adani Group, the recovery is underway. Though the rate is not that heart slowly it is recovering.
Amid this Adani Power, the Power and Energy company that belongs to Adani company announced the outcome of the third quarter on Wednesday. Shocking aspects were mentioned in the report.
In the same trimester last year, Adani Power reported a profit of massive Rs 218.5 crores. But the profit was restricted to 8.7 crores in profits. This surprised many. For the past few days, the prices of shares have been falling massively. Amid this, the profits recorded in big numbers raised many concerns.
The value of the shares which was Rs 432 on August 22nd last year is now trading between Rs 172-174. Before the Hindenburg report the share value stood at Rs 274. But the value has been decreasing further and stood at the last in 52 weeks. The recent report hints that there might be a negative impact.
Compared to the third semester, the net profit increased by 401 percent in the second semester. The company which announced Rs 695.5 crores profit now announced that the profits fell massively. We have to say that the semester results are not that great.