Adani Enterprises stock jumped 6% to Rs 3,810 in Friday’s intra-day trade and extended its gain to the fourth day in a row after the company posted an over two-fold increase in its net profit for the July-September quarter of this financial year.

The profit for the company came in at Rs 461 crore compared to Rs 212 crore in the same quarter of the previous fiscal year.

Adani Enterprises’ revenue rose three-fold to Rs 38,175 crore, against Rs 13,218 crore in the year-ago period. The strong growth in the topline and operational performance was on account of strong performance by integrated resource management and airport business, the company said.

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Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) stood at Rs 1,869 crore against Rs 883 crore reported in the same quarter of the previous financial year.

In the past week, Adani Enterprises outpaced the market as the stock surged 13%, against a 1.3% rise in the S&P BSE Sensex. The stock is moving towards its record high level of Rs 3,884, which it hit on September 20, 2022

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“AEL’s accelerating pace of business incubation and its remarkably consistent success demonstrates the robustness of the Adani Group’s fundamental approach to value creation as we transform sector after sector through digitization, innovation in technology, and a greater emphasis on equitable energy transition,” said Gautam Adani, Chairman, Adani Group.

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During the quarter, Adani Airports attended 16.3 million passengers at 90% of pre-Covid level and 2 Lacs MT Cargo. Adani Connex developed its first data center facility of 17 MW operational in Chennai.

However, Adani Wilmar reported a net profit of Rs 62.15 crore for the September quarter, down 64.78% from Rs 176.45 crore in the year-ago period.

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Adani Enterprises is the flagship company of the Adani Group. The company’s strategic business investments are based around the green hydrogen ecosystem, airport management, roads, data center, and primary industry like copper and petrochemicals, all of which have significant scope for value unlocking.