Adani Enterprises subsidiary secures two road projects

Adani Transport, a wholly-owned subsidiary of Adani Enterprises, has received Letter of Awards for 2 hybrid annuity road projects (HAM) from National Highways Authority of India (NHAI) in the state of Telangana.

These projects include four laning of NH-363 from Mancherial to Repallewada under NHDP Phase-IV on HAM and also four laning of Suryapet to Khammam of NH365BB under Bharatmala Pariyojana on HAM in the state of Telangana. These projects are worth Rs. 1,356.9 crore and Rs. 1,566.3 crore, respectively.

Adani Enterprises consolidated net profit declined by 72 per cent to Rs. 80.09 crore in the quarter ended December 2018 as against Rs. 286.97 crore YoY. This decline in profitability was on account of higher expenses. The company’s total income stood at Rs. 10,548.14 crore in the quarter ended December 2018 as against Rs. 9,241.61 YoY, registering a growth of 11.43 per cent.

Adani Enterprises has forayed into new sectors like petrochemicals and technology earlier this year.

Adani Enterprises was trading at Rs. 149.1 per share, up 7.15 per cent on the BSE. The stock made a 52 week high/low of Rs. 236.70 and Rs. 101.05, respectively.