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Adani Enterprises Q1 results: Net profit jumps 73% to Rs 469 cr; revenue surges 225%

Adani Enterprises Q1 results: Net profit jumps 73% to Rs 469 cr; revenue surges 225%

The company's EBITDA increased by 107 per cent to Rs 1,965 crore due to full consolidation of airports business and improved realizations in IRM business, Adani Enterprises said in a regulatory filing. 

Adani Enterprises Q1 results Adani Enterprises Q1 results

Gautam Adani-led Adani Enterpises Limited on Thursday posted a 73 per cent jump in its consolidated net profit at Rs 469 crore for the quarter ended 30 June, 2022. The company had posted a profit of Rs 271 crore in the year-ago period. 

Revenue from operations also surged 225 per cent to Rs 40,844 crore in the quarter under review from Rs 12,579 crore a year ago. 

The company's EBITDA increased by 107 per cent to Rs 1,965 crore due to full consolidation of airports business and improved realizations in IRM business, Adani Enterprises said in a regulatory filing. 

Moreover, the company also stated that it has completed Rs 7,700- crore primary equity transaction with IHC. 

TotalEnergies will invest at 25 per cent stake in Adani New Industries Limited (ANIL), forged to create largest green H2 ecosystem, it added.

In its airport business, the company stated that Adani Airports Holdings Ltd (AAHL - Airports) recorded 35 per cent increase in passenger movements to 16.6 million across seven airports.

Among its mining services, the company saw production volume up 71 per cent to 8.1 MMT and in its primary industries IRM, its volume  was up 52 per cent to 26.7 MMT during the quarter ended 30 June, 2022.

Commenting on the results, Gautam Adani, Chairman of the Adani Group, said,  "While our diversified growth is reflected across our range of businesses, Adani Enterprises continues to prove itself as one of the world's most successful multi-industry incubators."

"AEL's incubation strategy has no parallel and we intend to further leverage this unique business model as we transform the Adani Group into an integrated ‘platform of platforms’ with unprecedented access to the Indian consumer. AEL's high growth lays the foundation for us to accelerate the continued development of new businesses like data centres, airport ecosystems, road and water infrastructure, defence and aerospace, and digital technology services. Through our partnership with TotalEnergies in ANIL, we have also begun our journey to become the world's largest player in green hydrogen."

Shares of Adani Enterprises on Thursday closed 0.35 per cent higher at Rs 2,721 apiece on BSE.

Earlier today, Adani Enterprises signed an MoU with Israel Innovation Authority (IIA), the premier public-funded agency overseeing Israel's innovation policy, for cooperation in technological innovation. This cooperation will deepen the existing partnerships that Adani has already established over the past six years in Israel.

Published on: Aug 04, 2022, 7:05 PM IST
Posted by: Aparna Banerjea, Aug 04, 2022, 7:04 PM IST