Adani Enterprises Q4 net down 66% to Rs 309 cr

FY12 PAT fell 26% to Rs 1,839 cr

Adani Enterprises Ltd (AEL)'s consolidated net profits for the fourth quarter ended March 31, 2012 stood at Rs 309 crore against Rs 928 crore in the corresponding period previous year, showing a decline of over 66%. Higher fuel costs in the power business has affected company's profits, AEL informed in a statement issued on Monday.

The fourth quarter consolidated income stood at Rs 10,637 crore, up by about 16% as compared to Rs 9,112 crore in the same period previous year.

For the financial year ended March 2011-12, AEL's consolidated profit after tax (PAT) fell by 25.7% to Rs 1,839 crore against Rs 2,476 crore in the previous fiscal. Company's consolidated income for the fiscal 2012 rose by 49% to Rs 39,356 crore, against Rs 26,405 crore in the previous year.

"The past year has presented many unexpected challenges in resources and energy businesses. The results are obviously impacted by this environment, however going forward, in the coming year, we believe that many of the issues impacting the financial performance of the company will be resolved," informed Devang Desai, CFO of the Adani Group and executive director of AEL.

On standalone basis, AEL's net profit for the fourth quarter ended March 2012 increased by 243% at Rs 170.52 crore as compared to Rs 49.67 crore in the same period previous year. Total standalone income for the quarter rose by 67.8% to Rs 1555.05 crore against Rs 926.32 crore in fourth quarter of previous fiscal, the company informed in a filing with the Bombay Stock Exchange (BSE).

Company's standalone net profits for the year ended March 2012, stood at Rs 361.72 crore as compared to Rs 269.10 crore in the previous year, up by about 34%. Standalone income for the year increased from Rs 3454.5 crore in fiscal 2010-11 to Rs 5743.85 crore for the year ended March 31, 2012.

The board of directors of the company has recommended the dividend at Re 1 per share (100%) on equity shares of Re 1 of the company for the year ended March 2012.