Adani Enterprises Q1 FY22 consol PAT at Rs 271 crore, up 9 times YoY

The company's topline more than doubled in the period under review to Rs 12,579 crore from Rs 5,265 crore in the corresponding period last year

Adani Enterprises reported a consolidated net profit of Rs 271.46 crore in the June quarter, up nine times (803 per cent) from the same period last year on the back of increased revenue and lower base of last year where the first wave of Covid-19 led to nationwide lockdown.

The company’s topline more than doubled during the period under review to Rs 12,579 crore from Rs 5,265 crore in the corresponding period last year. The total tax outgo in the quarter gone was of Rs 183 crore.

Consolidated earnings before interest, depreciation, taxes and ammortisation (EBIDTA) for the company increased 215 per cent on a year-on-year basis to Rs 948 crore in the June quarter.

Within the established business category, the company’s solar manufacturing volume increased by 247 per cent on a year-on-year basis to 271 Mw in the quarter under review, while mining services production increased by 114 per cent to 4.7 million tonne. Integrated Resources Management (IRM) volume increased by 138 per cent to 17.6 million tonne.

During the quarter, the company completed acquisition of Mumbai International Airport, it said in the release and handled 3.5 million tonne passengers in four operational airports.

The company also signed concession agreements for 235 km road projects in the state of Odisha, West Bengal, Gujarat and Telangana and was awarded the Bhagalpur waste-water project from Bihar Urban Infrastructure Development Corporation.

Adani Enterprises is among the four listed entities of Gautam Adani-led Adani Group.