Adani Group flagship Adani Enterprises has reported a consolidated net profit of Rs 820 crore for the October-December 2022 quarter, as against a loss of Rs 11.63 crore a year ago. Operational revenue for the company increased from Rs 18,757.9 crore to Rs 26,612.2 crore, which is by 42 percent.According to projections, the company could report 29,245 crore rupees in revenue and 582.80 crore rupees in net profit. Earnings before interest, taxes, depreciation, and amortisation, or EBIDTA, increased by two times annually to Rs 1,968 crore. From 4.1 percent YoY, the margin increased to 6.1 percent. The stock entered the green shortly after the results, rising more than 6 percent in trading.Gautam Adani, chairman of the Adani group, stated that “Our basic strength is in mega-scale infrastructure project execution capabilities, organisational development, and superior O&M management skills equal to the best in the world.”According to the press statement, Adani Airports handled 1.8 lakh Matric Tons of cargo, 20.3 million passengers and 142,000 air traffic movements during the quarter.He added, “Our effective governance, stringent adherence to regulations, steadfast performance, and reliable cash flow creation are the reasons for our success. Turbulence in the market is temporary, and AEL will keep working towards its dual goals of using moderate debt and exploring for new opportunities to grow”.For the quarter, the amount of solar modules produced by Adani New Industries Supply Chain Ecosystem climbed by 63 percent to 430 Mega Watts. The volume of Integrated Resources Management increased by 8 percent to 15.8 MMT. The volume of mining services produced was 6.2 MMT.According to media reports, shares of Gautam Adani-led companies continued to fall under pressure, with six out of ten of the groups listed shares stuck in the 5 percent lower circuit. The S&P BSE Sensex, in contrast, was up 0.57 percent at 60,774.Adani Transmission (Rs 1,070.55), Adani Total Gas (Rs 1,135.60), Adani Wilmar (Rs 393.60), Adani Power (Rs 148.30), Adani Green Energy (Rs 653.40), Adani Total Gas (Rs 1,135.60), Adani Wilmar (Rs 393.60), and New Delhi Television (Rs 188.35) were locked in the lower circuit.After dropping 6 percent during intraday trading, Ambuja Cements, ACC, and Adani Enterprises all saw declines of 1 percent to 3 percent.Meanwhile, SEBI has stated that the Supreme Court is enquiring into the claims made by American short-seller Hindenburg Research against the Adani Group of enterprises and their effects on the markets.ONGC, Eicher Motors, Bata also shares Q3 profitONGC Q3 forecast:Brokerages predict that state-owned ONGC Ltd would have a 28.3 percent Year-over-Year increase in its standalone profit after tax (PAT) for the December quarter. The increase in APM gas prices, which increased by 3x on-year and 40 percent YoY, is anticipated to support growth in revenue and earnings.Eicher Motors Q3 forecast:The automaker will experience modest revenue growth of 2 percent from quarter to quarter. Profits should increase by 12 percent on a quarterly basis. Margins are anticipated to be 24.6 percent, up from 23.3 percent in the previous quarter. The NSE opened with Eicher Motors Ltd. shares trading at 3,235.05, down 0.54 percent.Bata Q3 forecast:Bata India is likely to announce a net profit of 116.54 crore and revenue of 965.30 crore for the third quarter. In todays early morning session, Bata shares were trading 0.11 percent down at 1,492.05 per share.
