Adani Group’s flagship company Adani Enterprises today announced its Q1 results with net profit growth of 44% year-on-year at ₹674 crore for the quarter ending June 2023. The company’s revenue fell 38% YoY. The company’s consolidated total income stood at ₹25,810 crore on account of correction in coal prices.
Consolidated EBIDTA (Earnings before interest, taxes, depreciation, and amortization) increased by 47% to Rs. 2,896 crore on account of strong operational growth.
“Our expertise in executing large-scale projects, like Kutch Copper, Navi Mumbai Airport, the certification of India’s first 5 MW onshore wind turbine, coupled with our world-class O&M capabilities are fundamental drivers that continue to accelerate our infrastructure journey that is poised to play a significant role in meeting the aspirations of largest emerging middle class cohort in the world. As we explore strategic expansion and growth, we remain committed to upholding the highest standards of governance, compliance and performance,” said Gautam Adani, Chairman of the Adani Group.
Over the years, Adani Enterprises has focused on building emerging infrastructure businesses, contributing to nation-building and divesting them into separate listed entities.
The firm’s other income rose to ₹371.5 crore in the June quarter from ₹222 crore year ago and supported the rise in net profit. The flagship company is a business incubator and houses several businesses such as data centres, airports, roads, solar manufacturing, wind turbine manufacturing, among few others.
The company also announced that its data center business has an orderbook of 110 MW from Hyperscale & Enterprise customers. During the quarter, Adani Airports handled 21.3 million passengers – rising by 27 percent YoY, and 2.5 lakh MT cargo, up by 9 per cent YoY.
Adani Enterprises share price ended 2.37% higher on Thursday at ₹2,531.90 apiece on the BSE after the company posted its Q1 results.
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