Adani Enterprises Ltd, the flagship company of billionaire Gautam Adani-led Adani Group, has posted a 28 per cent decline in standalone net profit at Rs 73 crore for the quarter ended March 31, 2015 against Rs 102 crore in the corresponding quarter a year ago.
The company's standalone net income stood at Rs 3,310 crore during the quarter against Rs 2,692 crore in the same period last year.
For the financial year 2014-15, the company has posted a standalone net profit of Rs 407 crore against a loss of Rs 179 crore. Net income for the year stood at Rs 14,909 crore against Rs 11,699 crore last year.
On a consolidated basis, the company has posted a net profit of Rs 737 crore for the fourth quarter ended March 31, 2015 against Rs 2,848 crore in the same period last year.
It has posted a consolidated net profit of Rs 1,948 crore for the financial year 2014-15, down by 12 per cent against Rs 2,221 crore in the previous year.
Adani Enterprises further informed that the board of directors has recommended a dividend of Rs 1.40 per share or 140 per cent on equity shares of Re 1 each for the year.
Commenting on the consolidated financial results, Ameet Desai, CFO Adani Group and Executive Director, Adani Enterprises, said, "Our results reflect growth and all-round performance across various verticals viz coal business, ports & logistics and power & transmission businesses. We remain optimistic to build these businesses to generate higher returns for all our stakeholders."
Adani Enterprises shares traded positive with gains of over 6.5 per cent on the Bombay Stock Exchange (BSE) at Rs 717.5 on Wednesday.