Guwahati: Adani Enterprises (AEL) reported an after-tax profit of Rs. 820 crores on Tuesday for the three months ending in December 2022.
The company had lost Rs 12 crores during the same time last year. According to the business, total revenue increased 42% year over year to Rs 26,951 crores during the quarter under review. According to a statement from the company, its earnings before interest, taxes, depreciation and amortisation (Ebitda) increased 101 percent year over year to Rs 1,968 crores.
The Nacelle factory in Mundra will be operational and commercial assemblies will begin during the first quarter of FY24, the business stated in the release. Additionally, it stated that a contract for a new irrigation engineering, procurement and construction (EPC) project in Madhya Pradesh worth Rs 3,246 crores had been inked.
In terms of arterial roads, the third Hybrid Annuity Model (HAM) project at Mancherial achieved a provisional commercial operation date (COD). The business added that a letter of authorization (LoA) has been signed with the state of Chhattisgarh’s Pelma Mine which has a 15 MMT capacity. It also stated that NDTV has been fully acquired by AMG Media Networks.
“Over the past three decades, as well as quarter after quarter and year after year, Adani Enterprises has not only validated its standing as India’s most successful infrastructure incubator but has also demonstrated a track record of building a core infrastructure business,” said by Chairman of the Adani Group Gautam Adani.
The Chairman said, “Our fundamental strength lays in mega-scale infrastructure project execution capabilities, organisational development and exceptional O&M (operations and maintenance) management skills comparable to the best in the world. AEL’s exceptional resilience and capacity to build highly profitable core sector business indicate how our strategy of harnessing the diverse strengths of the Adani portfolio of companies is creating consistent long-term value for all our stakeholders.”
Gautam Adani said, “Our success is due to our strong governance, strict regulatory compliance, sustained performance, and solid cashflow generation. The current market volatility is temporary; and as a classical incubator with a vision of long-term value creation, AEL will continue to work with the twin objectives of moderate leverage and looking at strategic opportunities to expand and grow.”