However, on a quarter-on-quarter (QoQ) basis, the Adani Group company reported a 17% decline in profit. The company had reported a net profit of Rs 463.93 crore in the June ended quarter.
The standalone revenue from operations for the reporting quarter stood at Rs 4,434.67 crore which was up 11.2% from Rs 3,987.34 crore in the year-ago period. In Q1FY24, the company reported revenue of Rs 5,279.35 crore.
Half yearly standalone net profit stood at Rs 848.22 crore which soared 547% from Rs 131.08 crore on the year-on-year (YoY) basis.
The earnings were announced during market hours and the stock was trading flat on the NSE, though the bias remained positive.
On a half yearly basis, the revenue from operations stood at Rs 9,635.78 crore which was up 14% YoY from Rs 8,455.73.
Segment wise, the revenue from cement stood at Rs 4,151.29 crore for Q2FY24 which was up from Rs 3,691.20 crore in Q2FY23 while the ready mix concrete segment reported revenue of Rs 308 crore for the reporting quarter versus Rs 353.26 crore.Assets Vs Liabilities
Total assets at the end of the reporting quarter stood at Rs 21,991 crore which was up from Rs 19,634.54 crore in the corresponding quarter of the previous financial year. Total liabilities stood at Rs 7,273.44 crore which was up from Rs 5,957.36 crore in the year ago period.
At Rs 4,127 crore, the total expenses incurred by the company for the said quarter were nearly same as reported by the company in the year ago period at Rs 4,162 crore. However, they were lower 11% on the sequential basis Rs 4,656.26 crore.
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