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Adani Enterprises Ltd (AEL) on Thursday posted a standalone net profit of ₹469 crore for Q1 FY20, against the net loss of ₹7 crore reported in the corresponding quarter a year ago.
Standalone revenues from operations stood at ₹5,436 crore for the period as against ₹2,676 crore in the same period last year.
On consolidated basis, company's net profit for the quarter stood at ₹570 crore, as against ₹80 crore same period last year. Consolidated revenues from operations stood at ₹10,561 crore up from ₹7558 crore last year.
The company attributed the sharp growth in the profits to one-time income of ₹328 crores recognized in AEL's Mine Development and Operations (MDO) business.
In the segment revenues, company's integrated coal management (ICM) segment posted ₹8036 crore for the quarter, up from ₹5796 crore in the comparable quarter last year. Profits in the ICM segment improved from ₹175 crore to ₹348 crore for the quarter under review.
Gautam Adani, Chairman, Adani Group said, "Adani Enterprises continues to make significant strides in lining up the next set of businesses that included airport management, data center parks, roads, water infrastructure and defense & aerospace. Its business portfolio has never been such stronger and each of these businesses led by focus on growth markets with offerings in the right product segments and compelling value proposition."
AEL shares ended positive with over 5 per cent gain at ₹132.5 on NSE Thursday.
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ATL standalone Q1 net dips to ₹1.5 crore
Our Bureau
Ahmedabad, Aug 8: Adani Transmission Limited (ATL) on Thursday posted standalone net profit of ₹1.5 crore for the June quarter, down from ₹31 crore reported in the same quarter last year.
Company's standalone revenues from operations for the quarter reduced to ₹0.06 crore, down from RS 68 crore reported in the corresponding quarter last year.
On consolidated basis, company posted net profit of ₹213 crore for the quarter under review, up 80 per cent from ₹169 crore in the same quarter last year. Consolidated revenues from operations stood at ₹2858 crore for the quarter, up from ₹553 crore last year.
Anil Sardana, MD & CEO, Adani Transmission Ltd said, "Adani Transmission has delivered strong operational and financial performance for first quarter of 2019-20. We maintained industry-leading availability of 99.93 per cent for our Transmission lines.
Our Mumbai Distribution business, acquired last year, is performing well, with operational EBITDA up 21 per cent y-o-y."
ATL shares ended at ₹214.05 on Thursday with close to 4% gain on NSE.
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