Adani Enterprises Q2 PAT climbs 117% YoY to Rs 461 cr

4 Nov 2022 , 10:24 AM

The companys net sales surged 188.8% to Rs 38,175.23 crore in Q2 FY23 from Rs 13,218.02 crore recorded in the corresponding quarter previous year. Total income surged 183% to Rs 38,441.46 crore in Q2 FY23 from Rs 13,597.11 crore recorded in Q2 FY22. The increase in total income was on account of strong performance by IRM and Airport business. Profit before tax soared to Rs 670.21 crore in Q2 FY23 as compared to Rs 188.57 crore reported in the same period last year. EBIDTA jumped 69% to 2,136 crore on account of strong performance by IRM and Airport business. During the quarter, Adani Airports handled 16.3 million passengers at 90% of pre-covid level, 126,900 air traffic movements and 2 lakh metric tonnes (MT) cargo. With respect to the roads business, the company received provisional COD for 2nd Hybrid Annuity Mode (HAM) road project at Suryapet Khammam. The firm secured financial closure for Ganga Expressway Project for Rs 10,238 crore. Construction activities in full swing for 7 projects (including 1 build, operate, transfer (BOT) project). In the Data Center segment, first data center facility of 17 megawatt (MW) made operational at Chennai while Noida Data Center project activities completed appromixmately 22%. In the Supply Chain Ecosystem business, New 2 gigawatt (GW) solar module line operationalised. Existing 1.5 GW capacity plant is being upgraded to 2 GW with TopCon Cell technology. Indias first and largest wind turbine prototype of 5.2 MW installed at Mundra; testing and certification in progress. Volume stood at 206 MW versus 267 MW. In the Mining Services segment, Mining Services production stood at 5.4 million metric tons (MMT) and Operational Peak capacity of coal mines at 50+ MMT including iron ore mine. Gautam Adani, chairman of the Adani Group, said, ?Adani Enterprises has yet again validated its standing as Indias most successful new business incubator as it continues to build on exciting ideas strategically aligned with the diverse strengths of the Adani portfolio of companies. AELs accelerating pace of business incubation and its remarkably consistent success demonstrates the robustness of the Adani Groups fundamental approach to value creation as we transform sector after sector through digitisation, innovation in technology and a greater emphasis on equitable energy transition.? He further added, ?We continue to believe ever firmly in the India growth story and remain committed to our core philosophy of nation-building through the development of advanced, efficient and world-class infrastructure that delivers increasing shareholder value.? Adani Enterprises (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. Shares of Adani Enterprises rose 0.44% to Rs 3,607 on the BSE. Powered by Capital Market – Live News