Adani Enterprises logs 44% y-o-y growth in Q1 net profit

4 Aug 2023 , 10:02 AM

Adani Enterprises announced its results for the quarter ended June 2023 and reported a 44% y-o-y growth in its consolidated net profit at Rs 674 crore against Rs 469 crore in the previous corresponding quarter.

The company further said that its revenue from operations fell 38% y-o-y to Rs 25,438 crore in June 2023 quarter, compared to Rs 40,844 crore in June 2022 quarter, owing to a correction in coal prices.

Other income of Adani Enterprises jumped to Rs 371.50 crore, compared to Rs 222 crore during the same quarter of previous year. EBITDA came in at Rs 2,896 crore, registering a growth of 47% y-o-y.

According to the company, its data center division has 110 MW of orderbook from Hyperscale and Enterprise customers. Adani Airports handled 21.3 million passengers (up 27% year-on-year) and 2.5 lakh MT Cargo (up 9% year-on-year).

Solar module sales in its new industries climbed by 87 percent to 614 MW. The blade manufacturing facility at its wind turbine plant is now operational. For its mining business, Carmichael Mine in Australia produced 2.6 MMT during the quarter.

At around 9.59 AM, Adani Enterprises was trading at Rs 2,533.60 per piece, against the previous close of Rs 2,532.60 on NSE. The counter touched an intraday high of Rs 2,557.90.

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