Adani Enterprises Q4 net down 74%; FY15 net down 12%

Total income has however jumped 17% compared annually

Adani Enterprises Ltd (AEL), the flagship company of the $9.4-billion Adani Group, announced a 74 per cent dip in consolidated net profit after taxes for the quarter ended March to Rs 737 crore.

Total income for the quarter rose marginally from Rs 16,431 crore in the same period a year before to Rs 16,508 crore, up 0.5 per cent.

For 2014-15, the net profit after taxes was Rs 1,948 crore as compared to Rs 2,221 crore for the year ended March 2014, down 12 per cent . Total income has increased by 16 per cent from Rs 56,226 crore in FY14 to Rs 65,520 crore in FY15. On a stand-alone basis, the quarter saw a 28 per cent dip in net profit for the quarter, to Rs 73 crore from Rs 102 crore in the same period a year before.

Total income rose from Rs 3,057 crore in the March 2014 quarter to Rs 3,597 crore, a jump of 17 per cent.

For the full year, the standalone net profit was Rs 406.8 crore, as compared to a net loss of Rs 178.7 crore for the year ended March 2014. Total income similarly rose from Rs 12,993 crore for the year ended March 2014 to Rs 16,212 crore in FY15, up 24 per cent.

The company stated its coal, ports and power businesses continued to scale up steadily. Gautam Adani, chairman, Adani Group, said: “As a group celebrating its silver jubilee year, we feel privileged to have built a global scale integrated infrastructure organisation in a relatively short time.”

Ameet Desai, finance head for the group and executive director, AEL, said: “Our results reflect growth & all-round performance across various verticals —coal business, ports & logistics and power & transmission.”

The company began extracting coal from its Indonesian mine in FY15, about five million tonnes. It said, "At the Carmichael Mine in Australia, the company has commenced award of key contracts for mining operations...to Liebherr and Komatsu for supplying excavators and trucks, respectively."

Adani Ports handled 2.7 million TEUs of containers in FY15 as against 2.4 mn TEUs in FY14. This is 14 per cent growth as compared to growth of seven per cent for container volume at all other ports, Adani claimed.

With the commissioning of the Tuna Tekra bulk terminal at Kandla, an additional 10 mt capacity has been added.

Adani Power acquired the Udupi project, taking its generation capacity of 10,440 Mw.

The AEL scrip ended Wednesday's trade on the BSE exchange about seven per cent up, at Rs 720.55 a share.