Gautam Adani's company's net profit jumps 73% in just 92 days, firm earns Rs...

Gautam Adani is the second richest man in India with a massive net worth of USD 58.6 billion, as per Forbes. Many of his companies are earning massive profits. One such firm of the Adani Group is Adani Energy Solutions, which reported a 73 per cent rise in the consolidated net profit to Rs 561.8 crore for the third quarter ended on December 31, 2024. This means the firm earned the profit in just 92 days (October - December) on the back of higher revenues.

The company had earned a net profit of Rs 324.90 crore in the October-December quarter of the previous year. Currently, the market cap of Adani Solutions stands at Rs 97406 crore. During the quarter, the Adani company won two new transmission projects: Khavda Phase IV Part-D with a project cost of Rs 3,455 crore and Rajasthan Phase III Part-I (Bhadla-Fatehpur HVDC) with a preliminary project cost of Rs 25,000 crore, thereby adding 3,044 circuit kilometres (ckm) to under construction network.

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With five new project wins so far this year, the under-construction project pipeline has zoomed to Rs 54,761 crore in Q3 FY25 from Rs 17,000 crore at the start of the year, said the company. The Adani Group continues to grow its business. In 2022, Adani became India's second-largest cement producer, after acquiring Swiss firm Holcim's Indian assets for USD 10.5 billion. The group has acquired several companies since then.