Comments
Ahmedabad, Aug 4 Adani Group flagship Adani Enterprises Ltd (AEL) on Thursday posted a consolidated net profit of Rs 469 crore for the first quarter ended June 30, 2022, as against Rs 271 crore in the corresponding quarter a year ago, indicating a 73 per cent jump year-on-year.
Revenues from operations stood at Rs 40,844 crore, as against Rs 12,579 crore in the same quarter last year.
On a consolidated level, segment revenues showed Integrated Resource Management (IRM) revenues growing to Rs 31,561 crore for the quarter from Rs 9,108 crore. Airport revenues increased to Rs 1,229 crore from Rs 68 crore during the quarter under review. Mining revenues increased to Rs 1,454 crore (Rs 563 crore). The revenues from solar manufacturing took a hit at Rs 608 crore as against Rs 618 crore reported in the corresponding quarter last year.
EBIDTA increased by 107 per cent to Rs 1,965 crore due to the consolidation of the airports business and improved realisations in IRM business, the company said in a regulatory filing.
Gautam Adani, Chairman of the Adani Group, said, “AEL’s incubation strategy has no parallel and we intend to further leverage this unique business model as we transform the Adani Group into an integrated ‘platform of platforms’ with unprecedented access to the Indian consumer.”
“AEL’s high growth lays the foundation for us to accelerate the continued development of new businesses such as data centres, airport ecosystems, road and water infrastructure, defence and aerospace, and digital technology services. Through our partnership with TotalEnergies in ANIL, we have also begun our journey to become the world’s largest player in green hydrogen,” Adani said.
On a standalone basis, AEL’s net profit stood at Rs 443 crore during the quarter, up 72 per cent as against Rs 257 crore in the corresponding quarter last year. Revenues from operations stood at Rs 20,318 crore for the quarter, as against Rs 4,990 crore in the same quarter last year.
AEL shares gained 0.4 per cent to end at Rs 2,723 on the BSE on Thursday.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.