Companies

Adani Enterprises back in black with standalone Q1 net at ₹256 cr

Our Bureau Ahmedabad | Updated on August 03, 2021

Gautam Adani   -  RAJEEV BHATT

Standalone revenue from operations rose to ₹4,990 crore

Adani Group's flagship, Adani Enterprises Ltd on Tuesday posted standalone net profit at ₹256 crore for the quarter ended June 30, against net loss of ₹81 crore in the corresponding quarter last year.

The company's standalone revenue from operations stood at ₹4,990 crore (₹1,992 crore).

On consolidated basis, company posted net profit of ₹261 crore for the quarter as against net loss of ₹66 crore in the same quarter last year. Consolidated revenues from operations stood at ₹12,579 crore (₹5,265 crore).

Consolidated EBIDTA increased 215 per cent to ₹948 crore, the company said in a statement.

Operations across various business segments have shown strong recovery, despite the continued impact of Covid-19 pandemic during the quarter, the statement said.

“AEL's existing businesses are stronger than they have ever been and this year we have successfully anchored ourselves in several new businesses critical to a strong Atmanirbhar Bharat. These include airport ecosystems, data centres, and advanced road and water infrastructure,” said Gautam Adani, Chairman, Adani Group.

Segment-wise consolidated revenues showed sharp jump in the company's integrated resource management segment with revenues rising from Rs 3057 crore in June quarter last year to Rs 9108 crore in the quarter under review, showing nearly three times the rise.

Similarly, company's revenues from mining business increased from ₹378 crore to ₹563 crore in the year-on-year basis. Solar manufacturing revenues increased by nearly three times from ₹205 crore to ₹617 crore on a year-on-year basis.

Adani Group's 50:50 joint venture with Singapore's agri trading player Wilmar International Limited, Adani Wilmar Limited (AWL) registered total revenue of ₹11,369 crore, a rise of 50 per cent over the same period last year. The EBIDTA for the quarter stood at ₹435 crore, a company statement said.

AWL has filed for a public offer to raise upto ₹4,500 crore, making it the seventh group company from the Adani stable to be listed on the stock exchanges.

Adani Enterprises shares ended positive at ₹1,443, up 0.4 per cent on the BSE on Tuesday.

Published on August 03, 2021

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