Adani Enterprises posts standalone Q4 net of Rs 65 cr

It was Rs 72.8 cr in the year-ago period

Adani Enterprises Ltd (AEL), flagship company of the $10 billion conglomerate Adani Group, registered a net profit of Rs 65 crore for the quarter ended March 31, 2016 where as the same was at Rs 72.80 crore for the quarter ended March 31, 2015, AEL said in its filing on BSE. The company's total standalone income for Q4 of fiscal 2015-16 was Rs 2,249.82 crore whereas the same was at Rs 3,597.23 crore for the quarter ended March 31, 2015.

According to AEL, in view of the Gujarat High Court sanctioning the de-merger on May 07, 2015 of its port undertaking, power undertaking and transmission undertaking comprising the undertaking, businesses, activities, operations, assets (movable and immovable) and liabilities of AEL and transfer of the same to APSEZL, APL and ATL, respectively, the results of the fourth quarter and fiscal ending March 31, 2016 were not comparable with the previous period or year numbers.

For the year ended March 31, 2016, AEL posted a standalone net profit of Rs 496.33 crore for the year ended March 31, 2016 where as the same was at Rs 406.85 crore for the year ended March 31, 2015. On the other hand, the total standalone income came to around Rs 9073 crore for the year ended March 31, 2016. AEL's standalone total income for the year ended March 31, 2015 was at Rs 16212.50 crore.

On consolidated basis, the Q4 net profit of AEL stood at Rs 166.80 crore for FY16. For Q4 of FY15, the same stood at Rs 737.17 crore. AEL registered a total consolidated income of Rs 11165.06 crore for quarter ended March 31, 2016 where as the same was at Rs 16507.65 crore for the quarter ended March 31, 2015.

AEL has posted a consolidated net profit of Rs 1,041.12 crore for the year ended March 31, 2016 whereas the same was at Rs 1,948.05 crore for the year ended March 31, 2015. Total consolidated income is Rs 45,147.61 crore for the year ended March 31, 2016 where as the same was at Rs 65,519.85 crore for the year ended March 31, 2015.

Commenting on the results, Gautam Adani, Chairman Adani Group, said: "Our portfolio of businesses across Mining, Renewable energy and Agro vertical benefits from vastly improved macro-economic and regulatory environment. Encouraging policy initiatives particularly in renewable space, enables us to explore new business opportunities in the sector."

According to Ameet Desai, CFO Adani Group and Executive Director, Adani Enterprises, the results reflected growth in operating performance across the AEL's mining, city gas and agro businesses. "We have already begun our renewable foray by commencing activities in solar generation," Desai said.

Among its various businesses, AEL's mine development and operations (MDO) business at Parsa Kente saw the company extracting and supplying washed coal of 5.5 MMT to RRVUNL in FY'16 as compared to 3 MMT in FY'15.

Under its city gas distribution business, the project implementation work at seven cities under joint venture with Indian Oil Corporation Limited is progressing as per the schedule, the company stated.

AEL recently launched India's first Diabetic care oil under brand "VIVO" for specific target segment under its agro business.