HomeInvestingEarningsAdani Enterprises posts Rs 820 crore net profit in Q3, revenue up...

Adani Enterprises posts Rs 820 crore net profit in Q3, revenue up 42%

Adani Group’s flagship company, Adani Enterprises, declared a consolidated net profit of Rs 820 crore for the October-December 2022 quarter, compared to a loss of Rs 11.63 crore the previous year.

The company’s income from operations has increased 42 percent year on year to Rs 26,612.2 crore from Rs 18,757.9 crore.

According to Bloomberg forecasts, the business might earn Rs 29,245 crore in revenue and Rs 582.80 crore in net profit.

Earnings before interest, taxes, depreciation, and amortisation (EBIDTA) more than quadrupled year on year to Rs 1,968 crore. The margin increased from 4.1 percent to 6.1 percent year over year.

Soon after the findings were announced, the stock began to rise, rising more than 6% in trading. On the NSE at 2:30 p.m., it was trading at Rs 1,833.25 a share.

“Our fundamental strength lies in mega-scale infrastructure project execution capabilities, organisational development and exceptional O&M management skills comparable to the best in the world,” Adani group Chairman Gautam Adani said.

According to the press announcement, Adani Airports handled 20.3 million passengers (a 40% increase year on year), 142,000 air traffic movements (a 21% increase year on year), and 1.8 lakh MT cargo during the quarter.

“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,” he said.

Adani New Industries Supply Chain Ecosystem’s solar module volume climbed by 63 percent to 430 MW during the quarter, Integrated Resources Management volume increased by 8 percent to 15.8 MMT, and mining services production volume increased by 6.2 MMT.

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