- In Q2, integrated resource management, saw revenue growing over three times to Rs 30,435 crore YoY
- In H1 FY23, the consolidated revenue increased by 202% to Rs 79,508 cr & consolidated EBIDTA by 86% to Rs 4,100 cr
- Ganga Expressway financial closure achieved for Rs 10,238 cr
- Ranked 7th in ESG Rating by DJSI (S&P) in its peers in the world for 2022
NE BUSINESS BUREAU
AHMEDABAD, NOV 4
Adani Enterprises Ltd (AEL), Adani Group’s flagship company, on Thursday announced its results for the half year & quarter ended September 30, 2022
Adani Enterprises garnered a consolidated net profit of ₹460.94 crore for the quarter ending September 30, 2022 (Q2FY23) period. The current Q2 PAT witnessed a massive 117% growth compared to a profit of ₹212.41 crore in Q2 of FY22. The profitability is in line with EBITDA. However, sequentially, the latest profit dipped by 1.81% from ₹469.46 crore in Q1FY23.
During the reporting quarter, EBITDA came in at ₹2,136 crore up by a whopping 69% on account of strong performance by IRM and Airport business.
Meanwhile, total income skyrocketed by a huge 183% to ₹38,441.46 crore in Q2FY23 compared to the same period a year ago, primarily due to strong performance by IRM and Airport business. Revenue from operations stood at ₹38,175.23 crore – rising by 188.8% from ₹13,218.02 crore in Q2 of the previous fiscal.
During Q2FY23, Adani Airports handled 16.3 million passengers at 90% of a pre-covid level, while its air traffic movements stood at 126.9k. It carried 2 lakh MT of cargo.
Furthermore, Adani Road Transport has completed 81% of the Mancherial Repallewada project in Telangana, while it completed 21% of the Kodad Khammam project in the same state. Also, the company completed 33% and 31% of the Vijayawada Bypass project in Andhra Pradesh and the Nanasa Pidgaon project in Madhya Pradesh. These projects are under execution.
Also, Adani Road secured financial closure for Ganga Expressway Project for ₹10,238 crore in the quarter. Additionally, the company received COD for the 2nd HAM Road project at Suryapet Khammam. This Adani subsidiary is currently carrying construction activities for 7 projects (including 1 BOT project) in full swing.
Financial Highlights H1 FY23 (Consolidated) (YoY Basis)
The Total Income increased by 202% to ₹79,508 cr on account of strong performance by IRM and Airport business. EBIDTA increased by 86% to ₹4,100 cr on account of strong performance by IRM and Airport business. The Attributable PAT increased by 92% to ₹930 cr in line with EBIDTA
“Adani Enterprises has yet again validated its standing as India’s most successful new business incubator as it continues to build on exciting ideas strategically aligned with the diverse strengths of the Adani portfolio of companies,” said Gautam Adani, Chairman of the Adani Group.
“AEL’s accelerating pace of business incubation and its remarkably consistent success demonstrates the robustness of the Adani Group’s fundamental approach to value creation as we transform sector after sector through digitisation, innovation in technology and a greater emphasis on equitable energy transition. We continue to believe ever firmly in the India growth story and remain committed to our core philosophy of nation-building through the development of advanced, efficient and world-class infrastructure that delivers increasing shareholder value,” Adani added.
