Adani Enterprises reports 51% y-o-y growth in Q2 consolidated net profit

3 Nov 2023 , 09:30 AM

Adani Enterprises Ltd reported a 51% year-on-year (YoY) reduction in consolidated net profit to Rs 227.82 crore for the quarter ended September 2023. Revenue fell by 41% year-on-year to Rs 22,517.30 crore.

Despite a twofold increase in other income to Rs 549 crore, net profit fell precipitously.

While both the top and bottom lines fell sharply in the quarter, operational performance was strong, with consolidated profits before interest, taxes, depreciation, and amortization, or EBITDA, jumping 30% year on year to Rs 2,430.29 crore.

The bottomline fell by more than 66% sequentially, while the topline fell by more than 11%.

Adani Enterprises reported a one-time loss of Rs 88 crore during the quarter due to a reduction in the realisable value of assets held for sale by one of the Group’s subsidiaries, Mundra Solar PV Ltd.

Total income decreased by more than 38% year on year to Rs 48,876 crore for the six months ended September 2023, while EBITDA grew 43% to Rs 5,874 crore.

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