Adani Group flagship Adani Enterprises has reported consolidated net profit of Rs 820 crore for the October-December 2022 quarter, as against a loss of Rs 11.63 crore a year ago.
The company's revenue from operations has zoomed 42 percent to Rs 26,612.2 crore from Rs 18,757.9 crore last year.
Bloomberg estimates indicated that the company may post a revenue of Rs 29,245 crore and a net profit of Rs 582.80 crore.
EBIDTA (earnings before interest, taxes, depreciation and amortization) doubled year-on-year to Rs 1,968 crore. Margin improved to 6.1 percent from 4.1 percent YoY.
Soon after the results, the stock broke into the green, gaining over 6 percent in trade. At 2:30 pm, it was quoting at Rs 1,833.25 apiece on the NSE.
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“Our fundamental strength lies in mega-scale infrastructure project execution capabilities, organisational development and exceptional O&M management skills comparable to the best in the world," Adani group Chairman Gautam Adani said.
During the quarter, Adani Airports handled 20.3 million passengers (an increase of 40 percent YoY), 142,000 air traffic movements (an increase of 21 percent YoY) and 1.8 lakh MT cargo, as per the earnings release.
"Our success is due to our strong governance, strict regulatory compliance, sustained performance, and solid cashflow generation. The current market volatility is temporary; AEL will continue to work with the twin objectives of moderate leverage and looking at strategic opportunities to expand and grow," he said.
For the quarter, Adani New Industries Supply Chain Ecosystem's solar modules volume went up by 63 percent to 430 MW, Integrated Resources Management volume increased by 8 percent to 15.8 MMT and mining services production volume came in at 6.2 MMT.
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