Adani Enterprises and HDFC Q4FY23 Results: Adani profit up 137%, share up 4.68%
Adani Enterprises and HDFC Q4FY23 Results: Adani profit is up 137%, share up 4.68%; HDFC will give a Rs 44 per share dividend
Adani Enterprises Limited, the flagship company of Adani Group, on Thursday, declared its fourth quarter results ending March 2023. The company's profit in the March quarter increased by 137% year-on-year. The profit of the company increased from Rs 304 crore to Rs 722 crore.
The company's income has also seen an increase of more than 26%. The company's income increased from Rs 24,866 crore to Rs 31,346 crore. With this, the margin increased to 11.44% from 5.08% in the March quarter. That is, the margin of the company has more than doubled.
The company's board has also approved a dividend of Rs 1.20 per share for the financial year ending March. The results of Adani Enterprises came after the market closed. Shares of Adani Enterprises today closed at Rs 1,925, up Rs 86 or 4.68%.
Adani Group Chairman Gautam Adani said on the result, 'Once again, Adani Enterprises has lived up to expectations not only as India's most successful business incubator but also as the world's most successful business in building infrastructure'.
HDFC's fourth-quarter profit grew by nearly 20% to Rs 4,425 crore on a year-on-year basis from Rs 3,700 crore. At the same time, interest income (NII) increased from Rs 4,601 crore to Rs 5,321 crore. The company has also decided to pay Rs 44/share dividend.
HDFC stock today hit a fresh 52-week high of Rs 2,867 on the back of good results. It closed at Rs 2,862, up Rs 74.25. HDFC opened at Rs 2,785 today. HDFC also made a low of Rs 1,687 in the day's trade. It closed at Rs 2787 yesterday.