Adani Power on Thursday posted a multi-fold increase in its consolidated net profit to Rs 2,738 crore for the December quarter compared with the year-ago period driven by higher revenues.
The company reported a profit of Rs 9 crore in the third quarter of 2022-23.
Total income rose to Rs 13,355 crore in the quarter from Rs 8,290 crore in the same period a year ago, a company statement said.
“Adani Power continues to demonstrate its leadership across domains by achieving ever higher standards of excellence, as evidenced by the financial results for the third quarter of FY 2023-24,” Adani Power CEO S.B.. Khyalia.
HPCL profit
Hindustan Petroleum Corporation Ltd (HPCL) on Thursday reported trebling of profit in the December quarter as robust marketing margin negated inventory losses.
Standalone net profit stood at Rs 529.02 crore, or Rs 3.73 per share, in the December quarter, compared with Rs 172.43 crore, or Rs 1.22 a share, last year, the company said in a statement.
HPCL earned $8.49 on turning every barrel of crude oil into fuel like petrol and diesel during October-December compared with $9.14 per barrel gross refining margin last year.
SBI Life
SBI Life Insurance has reported a net profit of Rs 321.75 crore in the third quarter ending December 31, 2023, a growth of 5.79 per cent compared with Rs 304.13 crore in the corresponding quarter previous year.
Net premium income during the quarter was at Rs 22,316.47 crore, up 16.40 per cent from Rs 19,170.80 crore in the corresponding quarter previous year.
The life insurance company on Thursday said that its new business premium in the nine months ended December 2023 grew 21 per cent to Rs 26,000 crore from Rs 21,510 crore in the year-ago period, aided by a 35 per cent rise in individual annuity business.
