Results for the December 2022 quarter from Adani Enterprises were released on Tuesday. The firm, which is the flagship of the Adani Group, reported a net profit of Rs. 820 crore as opposed to a loss of Rs. 11.63 crore in the same quarter last year. The company had a 42% increase in its operating revenue, which reached Rs 26,612.23 crore.
Consolidated revenue of Adani Enterprises surged by 42% to Rs 26,951 crore. In the third quarter of FY23, its EBIDTA jumped by 101% to Rs 1,968 crore.
In the first nine months of the fiscal year, the flagship company of the Adani Group saw a 135 percent increase in total revenue to Rs 1,06,459 crore. Attributable PAT increased by 271% to Rs.during this time, crore.
Adani Enterprises, India’s most successful infrastructure incubator, has established a track record of developing key infrastructure businesses over the past three decades, as well as quarter after quarter and year after year, according to Gautam Adani, Chairman of the Adani Group.
Adani Enterprise on the current market’s turbulence
The company has made it clear that the current market volatility is only transitory and that they are committed to achieving moderate leverage as their goal.
The billionaire industrialist stated that the current market volatility is only temporary and that AEL will continue to work with the dual objectives of moderate leverage and looking at strategic opportunities to expand and grow. AEL is a traditional incubator with a vision of long-term value creation.
The remarkable resiliency of AEL and its ability to develop extremely lucrative core sector businesses show how our strategy of leveraging the varied strengths of the Adani portfolio of companies is consistently producing long-term value for all of our stakeholders.
Adani emphasised that our success was a result of our effective governance, stringent regulatory compliance, consistent performance, and reliable cash flow creation.
During the quarter, Adani Airports handled 1.8 lakh MT of cargo, 142,000 air traffic operations, and 20.3 million passengers (a 40% YoY increase).
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