Adani Enterprises on Thursday posted fiscal first quarter profit at Rs 673.93 crore, up 43.6 per cent as against Rs 469.46 crore during the corresponding quarter of last year. It posted revenue from operations at Rs 25,438.45 crore, down 37.7 per cent in comparison to Rs 40,844.25 crore during Q1FY23. The company EBITDA stood at Rs 2,524 crore, up 45 per cent on-year. Adani Enterprises clocked a total income of Rs 25,809.94 crore, down 37.2 per cent from Rs 41,066.43 crore in the first quarter of FY23. However, the total expenses for the first quarter stood at Rs 24,731.42 crore, down 38.8 per cent from Rs 40,433.96 crore a year earlier.
“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,” said Gautam Adani, Chairman of the Adani Group.
Adani Enterprises’ Q1 performance across business
Adani Enterprises’ integrated resources management segment posted a revenue of Rs 15,006.23 crore during the first quarter of FY24. While its mining services segment recorded a revenue of Rs 591.42 crore, the commercial mining sector posted a revenue of Rs 1,562.43 crore. The new energy ecosystem revenue stood at Rs 1,918.17 crore. Meanwhile, its airport business vertical showcased a revenue of Rs 1,663.80 crore and the roads segment revenue stood at Rs 2,020.99 crore during the quarter ended June 2023.
“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,” said Gautam Adani.