Adani Enterprises skids after Q2 FY22 PAT declines 55% to Rs 195 cr

Adani Enterprises (AEL) dropped 6.82% to Rs 1,460.80 after the company's consolidated net profit tumbled 55.35% to Rs 194.54 crore on a 44.83% surge in revenue from operations to Rs 13,218.02 crore in Q2 September 2021 over Q2 September 2020.

Consolidated total income jumped 46% to Rs 13,597 crore due to significant increase in index prices in IRM segment. Consolidated EBIDTA soared 33% to Rs 1,262 crore due to increase in revenue and better margins in Integrated Resources Management (IRM) business. Consolidated PAT attributable to owners from Established Businesses climbed 67% to Rs 579 crore in line with higher EBIDTA. Overall Consolidated PAT attributable to owners stood at Rs 212 crore during the quarter as against Rs 362 crore during the corresponding quarter, last year.

Gautam Adani, the chairman of the Adani Group, said, "AEL continues to prove itself as India's most successful incubator - and remains unmatched in developing exciting new ideas strategically linked to the Adani portfolio of companies. AEL is both enhancing the span of companies it is incubating and accelerating the pace at which they are being incubated. We believe this is fundamental value creation in a world where digitisation has become the most significant business transformation vehicle ever known."

"AEL's existing businesses are stronger than they have ever been - and, this year, we have launched several new businesses critical to a strong Atmanirbhar Bharat. These include a digital consumer aggregation platform, networked airport ecosystems, green data centres, and advanced road, metro and water infrastructure. I see an exciting journey ahead given that 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."

Among established businesses for Q2 FY22, solar manufacturing segment recorded a strong order book of 1.2 GW. Adani Enterprises will continue to focus on this segment to have sustainable growth. In Mining Services, the company witnessed significant ramp up in GP III, Talabira and Kurmitar mines led to increase in productions volumes by 77% Y-o-Y (year-on-year) in Q2 FY22. Adani Wilmar's total revenue for Q2 FY22 jumped 57% Y-o-Y to Rs 13,588 crore. EBIDTA for the quarter increased by 79% Y-o-Y to Rs 455 crore. In food business, maintained its leadership position with its 'Fortune' brand and continues to lead the refined edible oil market with more than 20% market share.

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.

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