Adani Enterprises Q4 PAT soars to Rs 234 cr

Adani Enterprises reported a 282.2% jump in consolidated net profit to Rs 233.95 crore in Q4 FY21 from Rs 61.21 crore in Q4 FY20.

Revenue from operations inched up 0.7% year-on-year (YoY) to Rs 13,525.07 crore during the quarter.

The profit for Q4 FY21 was impacted by one-time exceptional loss of Rs 179.45 crore. During the quarter ended 31 March 2021, the Group has, based on advice from external legal counsel, derecognised certain interest claims on delayed payment amounting to Rs 179.45 crore, relating to earlier years. Though the management believes it has good grounds on merit for recovery of such interest, the same has been derecognized in the current year on conservative basis.

The EBIDTA for the quarter increased by 65% at Rs 1068 crore owing to better margins in IRM segment and increased sales in Domestic Content Requirement segment in solar manufacturing business, leading to better profits.

Offering details of operational highlights, the company said that solar manufacturing volume increased by 95% YoY to 376 MW. Mining services production increased by 34% at 6.7 MMT. Integrated Resources Management (IRM) volume stood at 18.8 MMT in Q4 FY21 as compared to 23.9 MMT in Q4 FY20.

On 19 January 2021, the company signed concession agreement for Guwahati, Jaipur and Thiruvananthapuram airports.

In Q4 FY21, the company has formed joint venture 'AdaniConnex' with EdgeConnex to develop and operate data centers throughout India.

Adani Enterprises recorded 18.9% fall in consolidated net profit to Rs 922.64 crore on 8.9% decline in revenue from operations to Rs 39,537.13 crore in the year ended 31 March 2021 over the year ended 31 March 2020.

EBIDTA for FY21 increased by 10% YoY at Rs 3,259 crore, owing to better performance in solar manufacturing segment due to increased sales in domestic content requirement segment, leading to better margins.

Gautam Adani, chairman, Adani Group, said: "The executional success we have been able to achieve in expanding into roads, water, airports and data centres augurs well for the Adani Group and our shareholders. In addition, our exciting businesses related to solar manufacturing, mining and airports are excellent examples of the Adani Group's ability to execute and deliver on the commitments we make to the markets."

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.

The scrip shed 0.97% to currently trade at Rs 1250 on the BSE.

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