As against a loss of Rs 11.63 crore, a consolidated net profit of Rs 820 crore has been reported by the Adani Group flagship Adani Enterprises for the October-December 2022 quarter.
Revenue Increased by 42%
As compared to Rs 18,757.9 crore last year, the revenue from the operations has increased by 42 percent to Rs 26,612.2 crore.
A revenue of Rs. 29,245 crores and a net profit of Rs 582.80 crore was posted by the company as per the estimates by Bloomberg.
On a yoy basis, the EBIDTA (earnings before interest, taxes, depreciation and amortization) doubled to Rs 1,968 crore. As compared to YoY, margin improved from 4.1% to 6.1%.
The stock broke green soon after the results and gained over 6% in trade. On NSE, it was quoting at Rs 1,833.25 apiece at 2:30 pm.
Adani said that “Our success is due to our strong governance, strict regulatory compliance, sustained performance, and solid cashflow generation. The current market volatility is temporary; AEL will continue to work with the twin objectives of moderate leverage and looking at strategic opportunities to expand and grow”.
For the quarter, Adani New Industries Supply Chain Ecosystem’s solar modules volume went up by 63 percent to 430 MW, Integrated Resources Management volume increased by 8 percent to 15.8 MMT and mining services production volume came in at 6.2 MMT.
More About Adani Enterprises
Headquartered in Ahmedabad, Adani Enterprises Limited is an Indian multinational publicly listed holding company and a part of Adani Group which is primarily involved in mining and trading of coal and iron ore.
Through its various subsidiaries, it also has business interests in airport operations, edible oils, road, rail and water infrastructure, data centers, and solar manufacturing, among others.
