Adani Group Earns Rs 460 Crore In 90 Days; Revenues Up 3-Times Due To These Reasons

The flagship company of the country’s richest man Gautam Adani, Adani Enterprises launched its earnings results for the second quarter of the ongoing financial year (FY23) on Thursday.

Adani Group Earns Rs 460 Crore In 90 Days; Revenues Up 3-Times Due To These Reasons

During the July-September quarter, Adani Enterprises posted a stellar performance, reporting a net profit growing more than two times and its revenue from operations nearly tripling.

Here are Adani Enetrprises’ Q2 earnings results in detail.

Q2 Earnings Results of Adani Enterprises

The coal-to-cooking oil conglomerate major Adani Enterprises posted a consolidated net profit of Rs 460.94 crore in the September quarter, witnessing a massive 117% jump compared to the same quarter last year.

Its Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) jumped 69% YoY to Rs 2,136 crore, based upon the strong performance portrayed by its Integrated resource management (IRM) business as well as the airport business.

Further, the giant’s total income soared 183% to Rs 38,441.46 crore on a YoY basis in the September quarter, thanks to robust performances of the aforementioned two businesses.

Adani Enterprises’ revenue from operations skyrocketed 188.8%, which means nearly 190% on a YoY basis to Rs 38,175.23 crore during the quarter. 

The Adani Group major’s Chairman and Asia’s richest Gautam Adani said, “Adani Enterprises has yet again validated its standing as India’s most successful new business incubator as it continues to build on exciting ideas strategically aligned with the diverse strengths of the Adani portfolio of companies.”

H1 FY23 Results 

During the first half of FY23, i.e., during the April-September 2022 period, the financials looked like this:

  • attributable profit after tax jumped sharply by 92% YoY to Rs 930 crore,
  • EBITDA surged 86% to Rs 4,100 crore compared to year-ago period, and 
  • total income soared by a breathtaking 202% YoY to Rs 79,508 crore.

Revenue Growth From Adani’s IRM & Airports Businesses

During the September quarter, the conglomerate’s airports business, namely Adani Airports handled a total of 16.3 million passengers which were at a capacity of 90% compared to pre-Covid levels.

Revenue from this business jumped nearly thrice in Q2 to Rs 1,292.3 crore, compared to Q2 FY22.

The revenue from the conglomerate’s Integrated resource management business rallied over three times to Rs 30,435.2 crore.

Comments are closed, but trackbacks and pingbacks are open.

who's online