Adani Enterprises Q1 profit grows 44% – ET Infra

Adani Group flagship company Adani Enterprises, which houses mining and trading businesses as well as incubates the group’s new business ventures, on Thursday reported a 44% growth in its profit for the April-June period even as revenue fell 37%.

The company reported a consolidated profit of ₹674 crore for the quarter, compared with ₹469 crore in the year-ago period. The consolidated top line came in at ₹25,810 crore, compared with ₹41,066 crore last year.

The company attributed the fall in revenues to a decline in coal prices.

Earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter grew 47% on-year to ₹2,896 crore.

The conglomerate’s shares closed at ₹2,531.90, up 2.37%, on Thursday, while the benchmark Sensex ended the session 0.82% in the red.

The growth was “led by our incubating business of Adani Airports, Adani New Industries, Data Center and Adani Roads,” said Gautam Adani, chairman of Adani Group.

“Our expertise in executing large-scale projects, like Kutch Copper, Navi Mumbai Airport, the certification of India’s first 5 MW onshore wind turbine, coupled with our world-class O&M capabilities are fundamental drivers that continue to accelerate our infrastructure journey,” he said.

  • Published On Aug 4, 2023 at 12:18 PM IST

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