Adani Enterprises reported a consolidated net profit of ₹1,741.75 crore in the second quarter of FY25, up over 7.6 times, aided by higher revenues, other income and profit from jointly controlled entities and associates.

Consolidated revenue rose nearly 16 per cent to ₹22,608 crore in the quarter, driven by mining services, commercial mining, new energy ecosystem, airports, roads and others.

In the year-ago quarter, the company had taken a loss of ₹88 crore as an exceptional item, that accounted for lower profit.

The company has also decided to withdraw the draft scheme of arrangement with Adani Wilmar, whereby the shareholding was to be transferred to the promoters of the group. It said that Adani Wilmar had to comply with the minimum public shareholding requirement of 25 per cent.

The board also approved raising up to ₹2,000 crore through the issue of non-convertible debentures.

Revenue drivers

The Adani New Industries segment, which is executing the green hydrogen project, saw its revenue rise 61 per cent in the quarter to ₹3,115 crore and EBITDA by 78 per cent to ₹628 crore.

Module sales rose 59 per cent to 1 GW in the quarter and crossed 2 GW in the first six months, the company said. Exports rose 64 per cent and domestic sales by 139 per cent. EBITDA margins improved on better realisation and operational efficiency through integrated production of cell and module line

The Adani group has seven operational airports that reported income of ₹2,276 crore, up 17 per cent on year, while EBITDA came in 31 per cent higher at ₹744 crore. During the quarter, the airports handled over 22 million passengers, a growth of 5 per cent, while air traffic movements rose 4 per cent to 15,330.

Group chief financial officer Jugeshinder Singh said they were on track to start operations at the Navi Mumbai airport in the first half of 2025.

Its three data centres coming up at Noida, Hyderabad and Pune were nearing completion.

Published on October 29, 2024