Adani Enterprises Q3 PAT slips 30% YoY to Rs 297 cr

Consolidated profit after tax (PAT) attributable to owners for Q3 FY21 stood at Rs 297 crore, down 30.28% compared with Rs 426 crore in Q3 FY20, owing to exceptional write off of exploration block on termination.

Consolidated total income for the quarter increased by 6% year on year at Rs 11,788 crore owing to increased sales in solar manufacturing business. Profit before tax (PBT) declined 8.1% to Rs 404.41 crore in Q3 December 2020 as against Rs 440.16 crore in Q3 December 2019.

The EBIDTA for the quarter increased by 6% at Rs 939 crore owing to increased sales in domestic content requirement segment in solar manufacturing business, leading to better margin.

Gautam Adani, the chairman Adani Group, has said: "Adani Enterprises continued its journey towards laying the foundation for several new businesses that the Group is venturing into. These include Airports, Data Centers, Roads, and Water. The fact that Adani Enterprises was able to grow its Revenue and EBIDTA through a year of crisis is a reflection of the resilience of India's economy as well as our confidence and commitment to continue to invest to build our nation's infrastructure."

Among its verticals, solar manufacturing volume stood at 285 megawatt (MW), mining services production rose 6% to 5.1 million metric tonnes (MMT), IRM volume increased 5% to 21.4 MMT.

The company signed concession agreement for Guwahati, Jaipur and Thiruvananthapuram Airports on 19 January 2021.

Shares of Adani Enterprises rose 0.36% to Rs 566.15. Adani Enterprises is the flagship company of Adani Group, one of India's largest business conglomerates.

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