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Adani New Industries, a wholly owned subsidiary, has won a contract from Solar Energy Corporation of India (SECI) to set up electrolyser manufacturing capacity of 198.5 MW a year under the Strategic Interventions for Green Hydrogen Transition Scheme (Tranche I). The company reported revenue IT services of 22,150.8 crore for the December quarter, down 1.09% from the previous quarter.

Revenue in dollar terms fell 2.1% sequentially to $2,656.1 million (1.7% in constant currency terms). The company clocked 13.5% sequential growth in profit at 4,350 crore in the December quarter, beating analysts' expectations. Revenue grew 6.7% sequentially to 28,446 crore (6% in constant currency terms).

The company has signed agreements to acquire a 100% stake in Capital Foods for 5,100 crore and Organic India for 1,900 crore. Net profit rose 17.6% to 690.6 crore in the December quarter, while revenue grew 17.3%. Ebitda increased by 16%, while margin remained flat at 8.2%. The company has received USFDA approval for propranolol hydrochloride extended release capsules that are used to treat hypertension, migraines and anginas.

The drug will be manufactured in the company's Pithampur facility. It had sales of $71 million in the US from January to November 2023. the company has won a 15,000 crore contract from NLC India for an EPC package for the 3x800 MW NLC Talabira Thermal Power Project (NTTPP) in Jharsuguda, Odisha.

The company recorded a 22.3% year on year growth in net profit at 92 crore in the December quarter. Revenue from operations rose 19.7% to 265 crore. Its subsidiary Genesis Gas Solutions has accomplished the incorporation of IGL Genesis Technologies, a joint venture with (IGL). Livemint tops charts as the fastest growing news website in the world to know more.

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