Adani Enterprises Limited reports 117% rise in PAT to Rs 461 crore in Q2 FY23
Ahmedabad, November 23, 2022
Adani Enterprises Limited (AEL), the flagship company of Adani Group, today reported a 117 per cent rise on a year-on-year (YoY) basis in its consolidated attributable PAT to Rs 461 crore in the second quarter (Q2) of financial year 2022-23 (FY 23).
Announcing its financial results for the second quarter and the first half of FY23, the company said its consolidated EBIDTA had gone up by 69% YoY to Rs 2,136 crore in the quarter on account of strong performance by its Integrated Resources Management (IRM) and Airports businesses.
The company's consolidated total income increased 183% YoY to Rs 38,441 crore on account of strong performance during the quarter.
For the first half (H1) of FY 23, AEL said its consolidated total income increased by 202% to Rs 79,508 crore on the back of strong performances by its IRM and Airport businesses.
Its H1 EBIDTA increased by 86% to 4,100 crore, while consolidated attributable PAT increased by 92% to Rs. 930 crore in line with EBIDTA, a press release from the company said.
“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," he said.
Among AEL's incubating businesses, Adani Airports Holdings Limited (AAHL) handled 16.3 million passengers, at 90% of pre-COVID levels, 126.9 thousand air traffic movements and 2 lakh metrictonnes of cargo.
The release said Adani Road Transport Ltd (ARTL) had received provisional COD for its second HAM road project at Suryapet Khammam, while four HAM projects are under various stages of execution.
The company had secured financial closure for Ganga Expressway Project for Rs 10,238 crore and construction activities were in full swing for seven projects, including one BOT project.
AdaniConnex (ACX) had made its first data centre at Chennai of 17 MW operational and 22% of project activities had been completed on its Noida Data Centre.
Among its established businesses, AEL had operationalised a new 2.0 GW solar module line, the existing 1.5 GW capacity plant is being upgraded to 2.0 GW TopCon Cell technology and India’s first and largest Wind Turbine prototype of 5.2 MW has been installed at Mundra, with testing and certification in progress.
The release said Mining Services production stood at 5.4 MMT, while operational peak capacity of coal mines stood at 50+ MMT, including iron ore mine.