Adani Enterprises Ltd (AEL) on Tuesday reported a marginal 2 per cent decline in consolidated profit after tax (PAT) to Rs 325.76 crore for the quarter ended on March 31, 2022, on the back of higher expenses.
The company had posted a consolidated PAT of Rs 332.53 crore in the year-ago period, Adani Enterprises said in a filing to BSE.
The consolidated income of the company during the January-March period increased to Rs 25,141.56 crore from Rs 13,688.95 crore in the year-ago period, the filing said.
The company’s expenses during the period increased to Rs 24,673.25 crore from Rs 13,213.95 crore in the year-ago period.
“AEL as the most successful incubator in India continues to develop exciting new businesses which are strategically linked to Adani portfolio of companies,” Adani Group Chairman Gautam Adani said.
“AEL’s existing business have strengthened their performance and we see exciting journey ahead for our new businesses like networked airport eco-systems, road and water infrastructure and green data centres.
“Add to this, the focus on new energy businesses and digital consumer platform, along with our ability to execute, will propel the shareholders’ value. We remain confident in India’s ability to become one of the fastest incubators of multi-industry unicorn,” he said.
Adani Enterprises, the flagship company of Adani Group, is one of country’s leading business houses