Adani Enterprises (AEL) on Thursday recorded its second quarter profit for the financial year 2023-24 at Rs 227.82 crore, down 50.6 per cent in comparison to Rs 460.94 crore during the corresponding quarter of FY23. It posted revenue from operations at Rs 22,517.33 crore, down 41 per cent as against Rs 38,175.23 crore during the same period last year. The company EBITDA stood at Rs 2,430 crore, up 30 per cent on-year, on account of strong incubating businesses.
AEL has made significant progress in its strong incubation pipeline during the first half of the fiscal year 2023-24. The company’s latest results showcase the emergence of key incubating businesses, including green hydrogen integrated manufacturing ecosystem, airports and roads, which collectively contributed 48 per cent of the overall EBITDA.
“We are fundamentally reshaping the essence of incubation scale and velocity. Adani Enterprises covers sectors that span energy, utility, transport, D2C, and primary industries. With many ventures now market-ready and thriving, our H1 FY23-24 results have been boosted by the core infra incubating businesses, thereby being a strong testament to our incubating ventures,” said Gautam Adani, Chairman of the Adani Group.
Adani Enterprises’ Q2 performance across businesses
Under Adani New Industries Ecosystem, solar manufacturing segment recorded total operational capacity at 4.0 GW and posted module sales increase of 205 per cent to 630 MW. Its wind turbine manufacturing segment, AEL said, received its fina type certificate for Prototype 1, enlisted inRLMM and started commercial operations, commissioned Prototype 2 and commenced commercial operations at Nacelle and Hub facility.
AdaniConnex Pvt Ltd (ACX – Data Center) posted an order book of +111 MW from Hyperscale & Enterprise customers.
Adani Water Ltd (AWL – Water) achieved commercial operation date certificate for Prayagraj water project.
Adani Airports Holdings Ltd (AAHL – Airports) recorded pax movements increase of 32 per cent to 21.4 million passengers, air traffic movement increase of 17 per cent to 148.2K and cargos stood at 1.9 lakh MT.