Net profit of Adani Enterprises, the flagship company of the Adani group, rose 44% year-on-year to ₹676 crore for the quarter ended June compared with ₹469 in the year-ago period.
Revenue from operations, however, dropped 38% year-on-year to ₹25,438 crore in the first quarter as against ₹40,844 crore in the corresponding period last year. This, according to the company, was on account of a correction in coal prices.
Earnings before interest, taxes, depreciation, and amortisation (EBIDTA) increased 47% year-on-year to ₹2,896 crore led by strong operational growth, the Gautam Adani-led conglomerate says in a stock exchange filing.
"These results are a validation of the Adani Group's robust operational and financial achievements. These outcomes, led by our incubating business of Adani Airports, Adani New Industries, Data Center and Adani Roads, not only underscore our history of creating and nurturing new and vital infrastructure businesses but also emphasise the future value and growth potential of the diverse Adani portfolio," says Gautam Adani, chairman of the Adani Group.
"Our expertise in executing large-scale projects, like Kutch Copper, Navi Mumbai Airport, the certification of India's first 5 MW onshore wind turbine, coupled with our world-class O&M capabilities are fundamental drivers that continue to accelerate our infrastructure journey that is poised to play a significant role in meeting the aspirations of largest emerging middle class cohort in the world," Adani says.
Adani New Industries Ltd's (ANIL) total module capacity of solar manufacturing stood at 4 gigawatts at the end of the quarter. Its module volume is up by 87% to 614 megawatts. The company says its Nacelle facility is operational and the blade manufacturing facility is ready for commercial production.
The company's airports business witnessed a 27% jump in passenger footfalls to 21.3 million. Adani Group operates seven airports across the country.
Adani Group says its data centre business has an orderbook of 110 MW from Hyperscale & Enterprise customers. In the mining business, production of Carmichael Mine, Australia stood at 2.6 MMT during the quarter.
"As we explore strategic expansion and growth, we remain committed to upholding the highest standards of governance, compliance and performance," says Adani.
Last month, Adani Group said it is building the largest hybrid renewables park in the world – right in the middle of the desert – in Khavda. "It will be the most complex and ambitious project that we have ever executed. Spread over 72,000 acres, this project will be capable of generating 20 GW of green energy," Adani said while speaking to shareholders. "We intend to build it faster than any project in our execution history," the billionaire said, reaffirming the group's target of having 45 gigawatts of renewable energy capacity by 2030.
