Last Updated: February 14, 2023, 14:39 IST
Adani Ent Posts Net Profit at Rs 820-Crore in Q3
Adani Enterprises Ltd on Tuesday reported a consolidated net profit (attributable to owners of the company) of Rs 820 crore during the third quarter
Adani Enterprises Ltd on Tuesday reported a consolidated net profit (attributable to owners of the company) of Rs 820 crore during the third quarter of the current fiscal as compared to net loss of Rs 12 crore in the year ago quarter. The company’s shares surged 4 per cent soon after the result.
Revenue from operations rose nearly 42% on year to Rs 26,612.23 crore.
Consolidated operating profit, calculated as earnings before interest, taxes, depreciation and amortization (EBITDA), doubled on year to Rs 1,968 crore, the company said.
“The current market volatility is temporary; and as a classical incubator with a vision of long-term value creation, AEL will continue to work with the twin objectives of moderate leverage and looking at strategic opportunities to expand and grow,” Chairman Gautam Adani said.
Integrated resource management business reported a 38% YoY growth in revenue to Rs 17,595 crore, while mining business sales rose nearly 3 times to Rs 2,044 crore.
The new energy ecosystem business revenue more than doubled to Rs 1,427.40 crore. The airports business also saw revenue doubling to Rs 1,733 crore.
Integrated resource management business volume increased 8% on year to 15.8 million tonne in the third quarter.
The business continued to maintain its leadership position as the number one player in India.
Read all the Latest Business News here
