Adani Enterprises back in black in March quarter

The company has however decreased from Rs 3586.8 crore in Q4 FY13 to Rs 3056.8 cr

Gujarat-based Adani Enterprises posted a net profit of Rs 102 crore for the fourth quarter ended March against a net loss of Rs 73 crore in the corresponding period last year.

Total income fell 15 per cent to Rs 3,057 crore from Rs 3,587 crore in the quarter.

For 2013-14, the company posted a net loss of Rs 179 crore against a net profit of Rs 520 crore in the previous year and a total income of Rs 12,993 crore, up four per cent year-on-year.

On a consolidated basis, however, the Adani Group’s net profit jumped sixfold to Rs 2,848 crore for the quarter from Rs 474 crore in the year-ago period, on compensatory tariff recognition for its subsidiary Adani Power and gain in derivatives.

“Income from operations includes revenue recognised by Adani Power amounting to Rs 1,843 crore towards the compensatory tariff comprising a lumpsum of Rs 830 crore till March 2013 and Rs 1,013 crore for FY14,” said the company.

Total income increased to Rs 16,419 crore for the quarter from Rs 11,821 crore in the year-ago period.

For the year, net profit grew 37 per cent to Rs 2,220 crore from Rs 1,612 crore in the previous year on the back of a 19 per cent rise in total income to Rs 56,226 crore from Rs 47,352 crore in the previous year.