Our Bureau Adani Enterprises Ltd (AEL) said on Wednesday it will see revenues from the newly developed airport business to start flowing in from the current quarter itself.

The company's management indicated that the revenues from three of the six airports it has got the mandate to operate, manage and develop, would start reflecting on the balance sheet from Q4 FY21.

"For the three airports (Ahmedabad, Mangaluru and Lucknow) it (revenues) will start coming from this quarter. For the other three (Thiruvananthapuram, Jaipur and Guwahati) it will come in the first quarter of the next fiscal," said Jugeshinder Singh, CFO, at a media concall on the company's quarterly financial performance.

"We expect to complete all settlement formalities with regard to Mumbai airport within this period as well. But for the first real (full financial) numbers from revenue point of view will be reflected in the September quarter this year," he added.

The company took over the Mangaluru, Lucknow and Ahmedabad airports during the quarter, while it has signed concession agreements for Thiruvananthapuram, Jaipur and Guwahati airports on January, 19, 2021.

Giving an update on the group's next generation businesses of renewable energy, technology park and data centre, Singh added that the investments in renewable and technology park are on track and there were no delays due to Covid. "Data centres are among our emerging businesses and we are very much focussed on that. Over the next 6-12 months, there will be a continued update on this business," he added.

On a consolidated basis, AEL posted a net profit of ₹343 crore for Q3 FY21, about 10 per cent down from ₹383 crore in the year-ago period.

Consolidated revenues from operations stood at ₹11,620 crore as against ₹10,948 crore in the same quarter last year. Consolidated EBIDTA for the quarter increased by 6 per cent at ₹939 crore owing to increased sales in domestic content requirement segment in solar manufacturing business, leading to better margin, the company said.

AEL’s reported standalone net profit for the quarter at ₹117 crore, as against ₹208 crore in the corresponding quarter last year. Standalone revenues from operations stood at ₹4079 crore as against ₹3826 crore in the same period last year.

"The spread of the Covid-19 pandemic impacted the operations and financial results of the company during the nine months ended December 31, 2020 due to lockdown restrictions. The operations across various segments have shown recovery from this impact. The company has assessed the impact of pandemic on its financial results based on the internal and external information available up to the date of approval of these financial results. The company will continue to closely monitor any material changes to future economic conditions due to this pandemic situation," it noted in its regulatory filing.

AEL shares ended at ₹563.90 nearly flat on Wednesday as compared to the previous close on NSE.

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