The Adani group’s flagship entity, Adani Enterprises (AEL), reported a more than sevenfold increase in its consolidated net profit (attributable to the company’s owners) for the July-September quarter of 2024-25 (FY25), driven by improved revenue and reduced finance costs.
The company’s board also approved a proposal on Tuesday to raise funds through non-convertible debentures of up to Rs 2,000 crore in one or more tranches.
In the quarter under review, AEL reported a net profit of Rs 1,742 crore, up from Rs 228 crore in the same period last year. This growth in earnings was supported by a 15.7 per cent rise in net sales, reaching Rs 22,608 crore.
Expenses rose by 8 per cent to Rs 20,787.29 crore year-on-year (Y-o-Y), while finance costs dropped 32 per cent to Rs 909.83 crore.
Sequentially, AEL recorded a 19.7 per cent increase in profit and an 11.2 per cent decline in net sales.
For the first half of FY25, the company reported its highest-ever half-yearly earnings before interest, tax, depreciation, and amortisation (Ebitda) of Rs 8,654 crore, backed by strong performance in its emerging core infrastructure businesses within the incubation portfolio. Ebitda for the quarter was up 46 per cent Y-o-Y, totalling Rs 4,354 crore.
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“This record-breaking half-year performance has been driven by Adani New Industries and Adani Airport Holdings with rapid growth in capacity additions and asset utilisation,” said Gautam Adani, chairman, Adani group.
During the quarter, AEL received a provisional commencement of operations date for its first build-operate-transfer project, Panagarh-Palsit. The company also secured a letter of award for the development and operation of the Taldih iron ore mine, with a capacity of 7 million tonnes per annum, from Steel Authority of India.
The company said that it remains focused on investments in logistics, energy transition, and adjacent sectors critical to India’s economic growth.
Adani shelves food FMCG shift to Wilmar to meet MPS rules
Adani Enterprises announced on Tuesday that its board has withdrawn the draft scheme to demerge the company’s food fast-moving consumer goods (FMCG) business.
In August, the board approved a plan to demerge its food FMCG business and transfer it to Adani Wilmar. However, in Tuesday’s statement, the company indicated that Adani Wilmar (AWL) is required to fulfil compliance obligations regarding minimum public shareholding (MPS).
“While AWL implements the MPS strategy in accordance with relevant Securities and Exchange Board of India circulars, and to provide clear direction to shareholders, the draft scheme is hereby withdrawn,” the statement added.