Adani Enterprises jumps after Q3 PAT spurts 378%

Shares of Adani Enterprises rose 3.22% to Rs 232.70 after consolidated net profit surged 378.19% to Rs 382.98 crore in Q3 December 2019 (Q3 FY20) as against Rs 80.09 crore reported in Q3 December 2018 (Q3 FY19).

Total income increased 5% to Rs 11,075 crore in Q3 FY20 over Q3 FY19. Profit before tax (PBT) for Q3 December 2019 stood at Rs 440.16 crore, up by 317.81% from Rs 105.35 crore reported in Q3 December 2018. Current Tax expenses stood at Rs 77.46 crore in Q3 December 2019, rising 87.92% from Rs 41.22 crore reported in Q3 December 2018.

EBIDTA grew 58% to Rs 884 crore in Q3 December 2019 as against Rs 562 crore reported in Q3 December 2018.

The company's ICM (Integrated Coal) volume increased by 24% to 20.42 MMT in Q3 December 2019 as against 16.41 MMT reported in Q3 December 2018. Mining production increased by 28% YoY to 4.77 MMT in Q3 December 2019. Solar Manufacturing volume doubled to 283 MW in Q3 December 2019 from 140 MW reported in Q3 December 2018.

"We at Adani Enterprises, continue to focus on incubating assets in transportation and utilities space. These new India-centric businesses will be instrumental in the economic growth of the country,at the same time it will endorse our work and take the benefits to masses.In our journey, we are committed to deliver world class services along with creating value for all the stakeholders," said Gautam Adani, Chairman Adani Group.

Adani Enterprises is the flagship company of Adani Group, one of India's largest business conglomerates. AEL is a fast-growing company with a diversified business portfolio comprising integrated coal management and mining services, solar modules manufacturing as well as edible oil business.

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