 "Adani Enterprise Ltd posts Rs 299 crore Q2 net profit")
AEL's consolidated income for Q2 of fiscal 2015-16 stood at Rs 11,390 crore as against Rs 10,752 crore in the same period last year, on comparable basis.
According to the company, quarter and half year figures were not comparable with the corresponding period last year, due to de-merger of its ports, power and transmission businesses effective from April 1, 2015.
For the first half of FY '16, AEL posted a consolidated net profit of Rs 679 crore against Rs 761 crore in the corresponding period last year on comparable basis. The consolidated income from operations for half year stood at Rs 22,665 crore against Rs 23,181 crore in the corresponding period last year on comparable basis.
Commenting on the results in an official statement, Gautam Adani, Chairman Adani Group, said, "Adani Enterprises continue on growth path with focus on Renewable Energy, Coal Trading, Mine Development & Operations, Agro and CGD. Robust economic growth and appropriate Government initiatives would enhance market opportunities. Our strategic presence across the key sectors would create value for our stakeholders."
Meanwhile, Ameet Desai, CFO Adani Group and Executive Director, Adani Enterprises said that the company was now looking to build towards next level of growth through implementation of new projects. "Our performance underscores our ability to optimally utilize assets across different segments. With implementation of new projects, operational excellence, we are building towards next level of business growth," Desai said.
