Adani Enterprises on Thursday posted a jump of 137.4 per cent in profit for the fiscal fourth quarter at Rs 722.48 crore as against Rs 304.32 crore in the same quarter last year. The company reported revenue from operations at Rs 31,346.05 crore, up 26.1 per cent on-year from the previous Rs 24,865.52 crore, on account of strong performance by IRM and Airports business. The company’s EBIDTA increased by 157 per cent to Rs 3,957 crore due to better operating performance across businesses.
Adani Enterprises also recommended a dividend of Rs 1.20 per equity share of face value of Re 1 each fully paid up for the financial year 2022-23. “The Company has fixed Friday, 7th July, 2023 as record date for the purpose of determining entitlement of the members of the Company to receive dividend of Rs 1.20,” it said in the regulatory filing.
“The past year’s results represent indisputable evidence of the strength and resilience of the Adani Group’s operational and financial performance. These exceptional results also highlight our consistent track record of gestating and building critical infrastructure businesses. Our focus remains on governance, compliance, performance, and cashflow generation,” said Gautam Adani, Chairman, Adani Group. The Board also approved the re-appointment of Gautam S Adani as an Executive Chairman of the Adani Enterprises for a further period of 5 years w.e.f. 1st December, 2023. The present term expires on 30th November, 2023, it said.
Adani Enterprises’ performance across businesses
Under Incubating Businesses, Adani Airports handled 21.4 million passengers during the quarter, up 74 per cent on-year, 149.4k air traffic movements, and 1.8 lakh MT cargo. For Adani Road Transport, construction is in full swing across all HAM and BOT projects. Under Established Businesses, volume increased by 4 per cent to 315 MW for solar cell and module. Among primary industries, mining services production increased by 17 per cent to 10.0 MMT, agreement for commercial coal mines signed in Q4 FY23 and integrated resource management volume rose by 20 per cent to 20.5 MMT, said Adani Enterprises.