Adani Enterprises post net profit of Rs 820 cr in Q3, revenue up 42%

New Delhi, Feb 14 (SocialNews.XYZ) Adani Enterprises Ltd (AEL) on Tuesday reported a consolidated net profit of Rs 820 crore for the quarter ending December 2022 compared to a loss of Rs 11.63 crore a year ago.

The company's revenue from operations surged 42 per cent to more than Rs 26,000 crore, while EBIDTA doubled year-on-year to Rs 1,968 crore.

"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," said Adani group Chairman Gautam Adani.

The promising results led to the stock gaining over 6 per cent in intra-day trade on Tuesday. The stock closed around 2 per cent up at Rs 1,750 apiece on the BSE.

The net standalone profit of AEL in Q3FY23 was Rs 269.71 crore as compared to a loss of Rs 36.46 crore in Q3FY22. AEL's EBIDTA increased by 101 per cent to Rs 1,968 crore.

The EBITDA of Adani Enterprises' listed portfolio for nine-month FY2023 grew by 57 per cent Y-o-Y to Rs 40,269 crore. Its core infrastructure EBITDA registered a growth of 46 per cent Y-o-Y to Rs 32,617 crore (81 per cent of portfolio).

Adani Enterprises' existing businesses and FMCG registered an EBITDA growth of 45 per cent Y-o-Y to Rs 4,833 crore (12 per cent of portfolio).

Its cement business reported strong recovery on Q-o-Q basis with cost optimisation and operational synergies leading to improvement in margins. AEL's EBITDA per tonne increased from Rs 340/tonne in the September 2022 quarter to Rs 829/tonne in the December 2022 quarter.

Source: IANS