Adani Enterprises Q1 FY22 PAT turnaround to Rs 266 cr

Adani Enterprises' consolidated net profit stood at Rs 265.60 crore in Q1 June 2021 (Q1 FY22) as compared to a net loss of Rs 65.67 crore in Q1 June 2020 (Q1 FY21).

Consolidated revenue from operations soared 138.90% to Rs 12,578.77 crore in Q1 FY22 from Rs 5,265.19 crore in Q1 FY21. Pre-tax profit was at Rs 379.54 crore in Q1 FY22 as against a pre-tax loss of Rs 137.54 crore in Q1 FY21. During the quarter, consolidated EBIDTA surged 215% Y-o-Y (year-on-year) to Rs 948 crore due to increase in revenue and better margins across all operating segments. The Q1 earnings was declared post trading hours yesterday, 3 August 2021.

Among established businesses, Solar Manufacturing volume jumped 247% Y-o-Y to 271 MW (mega-watt). With strong order book of 1.2 GW (giga-watt), the company will continue to focus on this segment to have sustainable growth.

In Mining Services, production volume at Parsa Kente mine in Chhattisgarh climbed 55% Y-o-Y to 3.1 MMT (metric million tonnes), volume at GP III mine (Chhattisgarh) doubled to 0.4 MMT, volume at Talabira II & III mine (Odisha) was 0.5 MMT and the production at Kurmitar iron ore mine (Odisha) commenced in Q1 FY22 and the volumes stood at 0.7 MMT.

In Adani Wilmar Services, total revenue for Q1 FY22 surged 50% Y-o-Y to 11,369 crore. The EBIDTA for the quarter stood at Rs 435 crore. In food business, the firm maintained its leadership position with its Fortune brand and continuing its lead in the refined edible oil market with more than 20% market share.

Commenting on the Q1 results, Gautam Adani, chairman of the Adani Group, has said that: "AEL has always been the incubation engine of the Adani Group and our creation of several new businesses continues to accelerate. AEL's existing businesses are stronger than they have ever been and this year we have successfully anchored ourselves in several new businesses critical to a strong Atmanirbhar Bharat. These include airport ecosystems, data centres, and advanced road and water infrastructure. I see an exciting journey ahead given every one of these sectors possesses multiple adjacencies to our existing businesses. Our results demonstrate that this purposeful model is working for us and we will continue to strengthen on all fronts to deliver greater shareholder value."

Adani Enterprises (AEL) is the flagship company of Adani Group, one of India's largest business conglomerates. The company's business investments are centred on the fields of airport management, technology parks, roads, data centre and water infrastructure.

Shares of Adani Enterprises slipped 0.27% to Rs 1,439.15 on BSE. The stock hit an intraday low of Rs 1,436.85 and an intraday high of Rs 1,463.70 so far.

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