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Adani Group’s flagship company, Adani Enterprises Ltd (AEL) registered standalone net profit of Rs 102 crore for the fourth quarter ended March 2014 against a net loss of Rs 73 crore for the same period previous fiscal year. Company’s total income for the quarter fell by 15 per cent to Rs 3,057 crore from Rs 3,587 crore.
On consolidated basis, company’s net profit for the quarter stood at Rs 2,848 crore as compared to Rs 474 crore in the corresponding period last year. Total consolidated income increased to Rs. 16,419 crore from Rs 11,821 crore in a year-ago period.
In a filing with the stock exchanges on Saturday, the company informed that the board of directors of the company had recommended the dividend at Rs 1.40 per share or 140 per cent on equity shares of Re 1 each of the company for the year 2013-14.
"Our port, power and coal trading businesses have demonstrated excellent growth in volume and profitablity," said Ameet Desai, CFO of Adani Group.
For the financial year, 2013-14, company has posted a net loss of Rs. 179 crore as compared to net profit Rs 520 crore in the previous year. Total income for the fiscal increased to Rs 12,993 crore as against Rs 12,505 crore a year ago.
The consolidated net profit for the year stood at Rs 2,221 crore against Rs 1,613 crore in the previous year. Total consolidated Income increased to Rs. 56,226 crore for the year from Rs 47,352 crore in the previous year.
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