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Adani Enterprises Quarterly Results: Rs 820 cr Q3FY23 profit vs Rs 12 cr YoY loss – What company said on market volatility

international media news
February 15, 2023 16 Views0

Adani Group flagship company Adani Enterprises  announced its financial results for the December 2022 quarter, reporting a net profit of Rs 820 crore as against a loss of Rs 11.63 crore in the same quarter last year. The company witnessed a 42 per cent jump in its revenue from operations to Rs 26,612.23 crore.

Adani Enterprises’ consolidated income increased by 42 per cent to Rs 26,951 crore. It’s EBIDTA increased by 101 per cent to Rs 1,968 crore in the third quarter of FY23. The Adani Group’s flagship company’s total income grew by 135 per cent to Rs 1,06,459 crore in the first nine months of the financial year. Attributable PAT rose by 271 per cent to Rs 1,750 crore during this time.

“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 core infrastructure business,” said Gautam Adani, Chairman of the Adani Group.

Adani Enterprise on recent market volatility
The company has clarified that the current market volatility is temporary adding that they will work towards the objective of moderate leverage. “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,” the billionaire industrialist noted.
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.
Our success is due to our strong governance, strict regulatory compliance, sustained performance, and solid cashflow generation, Adani underscored.
Meanwhile, Adani Airports handled 20.3 million passengers (40 per cent jump YoY), 142,000 air traffic movements (21 per cent jump) and 1.8 lakh MT cargo during the quarter.

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