Adani Enterprises report 223% increase in consolidated revenue to Rs 41,066 crore in Q1 FY23

Ahmedabad, August 5, 2022

Adani Enterprises Ltd (AEL), part of the Adani Group, on Thursday said that its consolidated revenue increased by 223% to Rs 41,066 crore year-on-year (YoY) during the first quarter (Q1), ended June 30, of financial year 2022-23 due to strong performances by its Integrated Resources Management and Airport businesses.

Announcing its financial results for the quarter, the company said consolidated EBIDTA had increased by 107% to Rs 1,965 crore due to full consolidation of the Airports business and improved realizations in the IRM business.

Attributable profit after tax (PAT) increased by 73% to Rs. 469 crore in line with EBIDTA, it said.

"While our diversified growth is reflected across our range of businesses, Adani Enterprises continues to prove itself as one of the world's most successful multi-industry incubators," said Gautam Adani, Chairman of the Adani Group.

"AEL's incubation strategy has no parallel and we intend to further leverage this unique business model as we transform the Adani Group into an integrated ‘platform of platforms’ with unprecedented access to the Indian consumer. AEL's high growth lays the foundation for us to accelerate the continued development of new businesses like data centres, airport ecosystems, road and water infrastructure, defence and aerospace, and digital technology services. Through our partnership with TotalEnergies in ANIL, we have also begun our journey to become the world's largest player in green hydrogen," he said.

A press release from the company said that Adani Airports Holdings Limited (AAHL) handled 16.6 million passengers, 126,000 air traffic movements and 2.3 lakh MT of cargo during the quarter.

The release said Adani Road Transport Ltd (ARTL) had received provisional COD for the Bilaspur HAM Road Project while four HAM projects -- two in Telangana and one each in Andhra Pradesh and Madhya Pradesh -- were in various stages of completion.

It said construction activities had also started in Azhiyur Vengalam, Kodad Khammam, Badakumari Karki & Panagarh Palsit road projects. The concession agreement was signed for Kagal-Satara road project of 65 kms in Maharashtra under BOT basis.

AdaniConnex Pvt Ltd (ACX) had completed 97% construction of the Chennai Data Centre while construction had started at the Noida Data Centre.

Among other highlights, the company said TotalEnergies would take a 25% stake in Adani New Industries Limited (ANIL) to create the largest green H2 ecosystem, while the company had completed a Rs 7,700 crore primary equity transaction with the Abu Dhabi-based International Holding Company (IHC). It had achieved financial closure of the KCL copper project with a consortium of banks led by State Bank of India for Rs 6,071 crore.

The Adani New Industries Supply Chain ecosystem had achieved sales volume of 264 MW while Primary Industries Mining Services saw production volume go up 71% to 8.1 MMT and Primary Industries IRM saw volumes increase 52% to 26.7 MMT.

NNN