Adani Enterprises reports Q4 net profit at Rs 167 cr

Adani Enterprises, the flagship company of the Adani Group, today reported a consolidated net profit of Rs 167 crore for the March quarter.
Net profit came in at Rs 737.2 crore in January-March of 2014-15, Adani Enterprises said in a BSE filing.
The income from operations during the quarter was at Rs 10,949.82 crore, it said. The figure in the year ago period read Rs 16,140.92 crore.
The numbers are not comparable following demerger of ports, power and transmission businesses.
"Statutorily published quarter- and year-end figures are not comparable with the corresponding period, consequent to demerger of ports, power and transmission businesses effective April 1, 2015," the company said in a press statement.

"Consolidated total income from operations for the financial year ended March 2016 is Rs 44,023 crore. EBIDTA for the financial year is Rs 3,114 crore. PAT for FY16 is Rs 1,041 crore."

For the fourth quarter of 2015-16, consolidated PAT read Rs 167 crore, it added.
In a statement, Adani Group Chairman Gautam Adani said: "Our portfolio of businesses across mining, renewable energy and agro-vertical benefits from vastly improved macro-economic and regulatory environment. Encouraging policy initiatives particularly in renewable space enable us to explore new business opportunities in the sector."
(REOPENS DCM 58)
In a separate filing, Adani Enterprises said its board has given approval to seeking shareholder nod at the upcoming annual general meeting to raise Rs 6,000 crore by issuance of shares or convertible bonds.

"The board of directors at its meeting... Has also accorded approval to seeking shareholder nod... To issue secured/unsecured redeemable non-convertible debentures on the private placement basis within the overall borrowing limits of the company.