Adani Enterprises Ltd (AEL), the flagship arm of the Adani Group, on Tuesday posted a standalone net loss of ₹7 crore for the first quarter ended June 2018, against a net profit of ₹23 crore in the corresponding quarter a year ago. The company’s total income for the period stood at ₹2,775 crore (₹2,448 crore).

On a consolidated basis, its net profit was ₹80 crore (₹141 crore) with total income at ₹8,064 crore (₹8,637 crore).

The EBIDTA for the quarter is ₹589 crore (₹503 crore). AEL shares fell 5 per cent to close at ₹189.2 on the NSE.

 

APSEZ posts profit

Meanwhile, the group’s ports operator Adani Ports and Special Economic Zone Ltd (APSEZ) posted a standalone net profit of ₹359 crore for the first quarter ended June 2018, down 28 per cent from ₹500 crore reported for the corresponding quarter a year ago.

Revenues from operations stood at ₹1,081 crore for the quarter (₹1,645 crore).

Cargo diversification

On a consolidated basis, the company’s net profit stood at ₹697 crore, down 9 per cent from ₹767 crore reported for the same quarter a year ago. Revenues from operations stood at ₹2,411 crore (₹2,745 crore).

Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ, said: “We have clocked the highest quarterly throughput with a growth of 9 per cent in first quarter of fiscal 2019.

“This has been possible due to our continued efforts to diversify cargo at all our ports. Port EBITDA margins have expanded by 100 BPS to 70 per cent and we expect EBITDA to continue to expand due to our focus on higher capacity utilisation, automation and mechanisation through use of technology.

“Our focus will be to further strengthen our balance sheet and to continue best practices in health, safety and environment processes.”

 

 

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