Adani first quarter net profit up over two-fold at Rs 407 crore

Adani-EnterprisesAdani Enterprises has announced its financial results for Q1 the fiscal year 2010-11. According to the firm, it has registered a significant two fold net profit rise in the reviewed quarter.

Adani Enterprises has posted a consolidated net profit of Rs 407 crore for the quarter that ended in 30th June, 2010 which is almost doubled of the net profit figure of corresponding three months time period in the last fiscal year.

The company has registered a net profit of Rs 127.67 crore in the same quarter in the previous year. However, there has been a decline in the company's turn over in this quarter.

The turnover of the company has dropped by 14.4% and has touched Rs 5,536 crore during the April-June quarter of fiscal year 2010-11 which was Rs 6,377 crore for its like period a year ago. The revenue of the firm has been recorded to be Rs 3,476.05 crore against Rs 5,236.13 crore in last year. The standalone net profit of the firm is Rs 84.16 crore in Q1 of 2010 as against Rs 78.73 crore for the same period last year.