Adani Enterprises reports 2.3 times growth in Q3 net profit to ₹1,888 Crore

2 Feb 2024 , 04:46 PM

On February 1, Adani Enterprises announced a 2.3x increase in consolidated net profit to ₹1888.40 Crore for the quarter ending December 2023. The Adani group’s main firm declared a net profit of ₹820 Crore a year earlier.

The company’s income from operations increased by 6.5% year on year to ₹28,336.4 Crore from ₹26,612.20 Crore.

In the third quarter, the company’s EBITDA (profits before interest, taxes, depreciation, and amortisation) virtually quadrupled to ₹3,227.70 Crore from ₹1,629.20 Crore in the previous year. Margins increased to 11.4% from 6.1% in the same period previous year.

Adani Enterprises’ incubating companies, which include a green hydrogen ecosystem, airports, and roadways, produce 45% of total EBITDA.

‘We are pleased with the pace of our progress towards establishing a fully integrated manufacturing chain for green hydrogen production,’ said Gautam Adani, chairman of Adani Group.

Breaking down the operational highlights, the business stated that operating module line capacity for solar production is 4.0 GW. The order book for wind turbine production now stands at 142 sets.

According to a recent assessment, AEL is the most trusted firm for bringing energy resources into India; it controls eight airports, which account for 25% of airline passenger traffic and 33% of cargo; and it is creating many data centres.

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