The loss was due to losses in developing business. Total income increased by 61% YoY during the quarter to Rs 18,963 crore due to improved realization on the back of higher index prices in IRM segment.
EBIDTA increased by 4% YoY to Rs 977 crore in Q3 FY22. These results are not comparable with those of previous period due to consolidation of Mumbai Airport.
In Q3 FY22, the company took over Jaipur, Guwahati and Thiruvananthapuram airports. With this, AELs airports portfolio now includes 7 operational airports and 1 greenfield airport. During the quarter, Adani Airports witnessed significant improvement in its operations and handled 14.5 million passengers, 1,17,525 air traffic movements and 1,80,353 MT cargo.
With respect to the roads business, the company received LOA of Rs 17,100 Cr for three greenfield Ganga Expressway Projects of 464 kms in Uttar Pradesh on build, operate and transfer (BOT) basis. With this, total roads portfolio increased to 13 projects for construction / operation of roads aggregating to 950+ KMs.
In the Data Center segment, AdaniConneX completed 62% of construction of Chennai Data Center and also completed the land registration process for Noida Data Center. With regard to the Solar Manufacturing business, the company said that with a strong order book of 0.6 GW, it will continue to focus on this segment to have sustainable growth. It added that the existing capacity of 1.5 GW is being expanded to 3.5 GW, which will be completed by Q2 FY23.
In the Mining Services segment, significant ramp up in Gare Pelma III, Talabira and Kurmitar mines led to increase in productions volumes by 61% in Q3 FY22.
AEL is the flagship company of Adani Group, one of Indias largest business conglomerates. The companys business investments are centred on the fields of airport management, technology parks, roads, data centre and water infrastructure.
The scrip rose 0.46% to currently trade at Rs 1671.15 on the BSE.
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