Adani Enterprises' consolidated net profit rises 282% in March quarter

Adani Enterprises on Wednesday reported 282.2 per cent rise in consolidated net profit at Rs 233.95 crore for the quarter ended March 31, 2021.

The company had posted a consolidated net profit attributable to the owners of the company of Rs 61.21 crore in the year-ago period, Adani Enterprises Ltd (AEL) said in a filing to BSE.

The consolidated income of the company during the January-March quarter was at Rs 13,688.95 crore as compared with Rs 13,698.09 crore in the year-ago period, the filing said.

"I am pleased with the results Adani Enterprises has delivered. Despite the challenges our nation and our people have faced over the past year, we have remained true to the philosophy of Atmanirbharta in every business that AEL incubates.

The executional success we have been able to achieve in expanding into roads, water, airports, and data centers augurs well for the Adani Group and our shareholders. In addition, our exciting businesses related to solar manufacturing, mining and airports are excellent examples of the Adani Group's ability to execute and deliver on the commitments we make to the markets," Adani Group Chairman Gautam Adani said.

The company further said in the statement that on the consolidated basis during the fourth quarter the company's PAT ( Profit Before Tax) attributable to owners (before exceptional item) increased to almost seven times at Rs 413 crore vs Rs 61 crore due to higher EBIDTA ( earnings before interest, taxes, depreciation, and amortization).

"The profit for Q4 FY'21 was impacted by the one-time exceptional loss of Rs 179 crore," the statement said.

On the operational highlights for the fourth quarter, the company said that the solar manufacturing volume increased by 95 per cent to 376 MW.

The company said that its board has recommended a final dividend of Re 1 per equity share of the face value of Re 1 each for the financial year 2020-21 subject to approval of the shareholders

Adani Enterprises Ltd is the flagship company of Adani Group. Over the years, Adani Enterprises has focused on building emerging infrastructure businesses, contributing to nation-building, and divesting them into separate listed entities.

The shares of the company closed at Rs 1,267.85 apiece on BSE.