ALSO READIndian Oil Q4 net soars 85% at Rs 3,721 cr on higher income Indian Oil Corp first-quarter profit falls 45 percent but beats estimates Adani Enterprises Q4 net profit jumps 60 pc to Rs 221 cr Income Tax to take on IOB in men's finals tomorrow Adani Enterprises Q1 net profit dives 62% in to Rs 141 cr
Adani Enterprises, the flagship firm of Adani group, today said its profit after tax fell by 6.34 per cent to Rs 59 crore in the July-September quarter of 2017-18 compared to Rs 63 crore in the same quarter a year ago. "The EBIDTA for the (second) quarter is Rs 773 crore vs Rs 580 crore in Q2 FY17," the company said in a statement. Consolidated income from operations for the September quarter was at Rs 9,083 crore against Rs 7,594 crore for the corresponding period in the previous year. "Adani Enterprises continues to consolidate its position as energy and infrastructure player. With favourable policy measures, we remains committed to create assets of national importance.
We are confident that our businesses will bring significant benefits to the Indian economy and the stakeholders," Adani Group Chairman Gautam Adani said in the statement. The Group CFO, Rajiv Nayar, said, "Our renewable, coal, city gas and agro businesses have delivered broad based, durable and profitable growth through improved operational performance. The structural strength of our business model and economic environment augurs well for the new capacities which are coming on stream." In Coal Mine Development and Operations (MDO) at Parsa Kente coal mines in Chhattisgarh, the company said it has supplied washed coal of 1.7 million tonne to Rajasthan Rajya Vidyut Utpadan Nigam in the second quarter compared to 1 million tonne in the second quarter of FY2016-17, showing an increase of 68 per cent. In renewable energy sector, the company has operationalised renewable projects of 1,088 MW with a further pipeline of 1,060 MW of projects under various stages of implementation across the country. The company provides piped natural gas to households, industrial and commercial consumers and compressed natural gas for automobiles in Ahmedabad, Vadodara, Faridabad and Khurja. The company envisages future growth through a 50:50 joint venture with Indian Oil Corporation (IOC) which has been awarded the city gas project in cities of Allahabad, Chandigarh, Ernakulum, Panipat, Udham Singh Nagar and Dharwad. Operations have started in Chandigarh, Allahabad and Daman and the projects are at various stages of implementation in other cities. Shares of the company today ended 2.08 per cent down at Rs 152.70 apiece on BSE.
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