The consolidated total income for Adani Enterprises was recorded at Rs. 13,597 crore during the July to September quarter, up 46% from the same quarter last year. The figure stood at Rs 9312 crore in the same quarter in the previous year and at Rs 12,730 crore in the quarter ended June 2021.
Net profit however came in at Rs 194.5 crores while it had reported Rs 265.6 crore profit in the April to June quarter. This is also significantly lower than the Rs 435.7 crore reported in the same quarter in the previous year.
This is probably attributed to the higher expenses the company incurred in the quarter of Rs 13,408 crore on the back of higher employee benefit expenses (Rs 289 crores) and also an unusually low base for changes in inventories of finished goods, work-in-progress, and stock-in-trade in the previous quarter (negative Rs1299 crore).
EBITDA (consolidated) increased 33% to Rs 1262 crore mainly due to the consolidation of the Mumbai International Airport against Rs 951 crore reported in the same quarter last year.
The Adani Enterprises share price rose 1.47% in expectation of the results.
Mr. Gautam Adani, Chairman of the Adani Group commented that Adani Enterprise continues to prove itself as India’s most successful incubator – and remains unmatched in developing exciting new ideas strategically linked to the Adani portfolio of companies. He also added that Adani Enterprises is both enhancing the span of companies it is incubating and accelerating the pace at which they are being incubated.
Taking a cue from Atmanirbhar Bharat Mr.Adani threw light on Adani Enterprise’s new businesses like digital consumer aggregation platform, networked airport ecosystems, green data centres, and advanced road, metro, and water infrastructure.
He also discussed how digitisation has become the most significant business transformation vehicle.
Adani Wilmar from the Adani Enterprises group has maintained its leadership position in the food business with its “Fortune” brand and continues to lead the refined edible oil market with more than 20% market share. The company is set to list soon. Watch out for the IPO details on the Groww platform.
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Research Analyst: Bavadharini KS