Adani Enterprises Q3 profit jumps 362 pc to Rs 426 crore
Ahmedabad (Gujarat) [India], Feb 5 (ANI): Adani Enterprises said on Wednesday its profit after tax for the third quarter of current fiscal (Q3 FY20) increased three-fold to Rs 426 crore versus Rs 92 crore in the same period of previous year.
ANI
Feb 05, 2020 15:20 IST
Ahmedabad (Gujarat) [India], Feb 5 (ANI): Adani Enterprises said on Wednesday its profit after tax for the third quarter of current fiscal (Q3 FY20) increased three-fold to Rs 426 crore versus Rs 92 crore in the same period of previous year.
Consolidated total income increased by 5 per cent to Rs 11,075 crore compared to Rs 10,548 crore while earnings before interest, tax, depreciation and amortisation (EBIDTA) jumped by 58 per cent to Rs 884 crore versus Rs 562 crores in the same period.
Consolidated total income for the first nine months of FY20 increased by 11 per cent to Rs 30,388 crore compared to Rs 27,478 crore in 9M FY19.
The EBIDTA increased by 45 per cent to Rs 2,321 crore from Rs 1,597 crore profit after tax for 9M FY20 rose by 148 per cent to Rs 1,077 crore versus Rs 434 crore in 9M FY19.
"We at Adani Enterprises continue to focus on incubating assets in transportation and utilities space," said Chairman of Adani Group Gautam Adani.
"These new India-centric businesses will be instrumental in economic growth of the country. At the same time, it will endorse our work and take the benefits to masses. In our journey, we are committed to delivering world-class services along with creating value for all the stakeholders."
In mining services business, production volume at Parsa Kente coal mine in Chhattisgarh increased by 26 per cent to 4.71 million tonnes compared to 3.74 million tonnes in Q3 FY 19. The coal production at Gare Pelma three mine in Chhattisgarh was started with a volume of 0.06 million tonnes.
In solar manufacturing, the company has established India's largest solar cell and module manufacturing unit in Mundra special economic zone. The plant has an installed capacity of 1.2 gigawatt fully integrated cell and module manufacturing unit. Q3 FY20 volume witnessed a growth of 102 per cent to 283 megawatt modules compared to 140 megawatt modules in Q3 FY19.
In food business, the company has maintained its leadership position with its Fortune brand and continues to lead the refined edible oil market with more than 20 per cent market share.
In roads segment, the company has signed three concession agreements with the National Highways Authority of India (NHAI) under hybrid annuity model for construction of roads aggregating to over 150 km with project completion status of 30 per cent in Bilaspur-Pathrapali project at Chhattisgarh.
In airport services, the company has won bids for six airports at Ahmedabad, Mangalore, Lucknow, Thiruvananthapuram, Jaipur and Guwahati of which Cabinet approval and security clearances have been received for Ahmedabad, Mangalore and Lucknow. (ANI)
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