Billionaire Gautam Adani-led - Adani Enterprises - on Tuesday reported net profit of Rs 820 crore for quarter ended December 2022 compared with loss of Rs 11.63 crore during the same period last year.
Its revenue from operations advanced 42 per cent annually to Rs 26,612 crore as against Rs 18,758 crore in the year ago period. The revenue improved on account of strong performance by ANIL Ecosystem, Airports and Integrated Resources Management (IRM) business.
Adani Enterprises' earnings before interest, depreciation, taxes and amortization (EBIDTA) also known as operating profit more than doubled to Rs 1,968 crore in line with increased volume of ANIL Ecosystem and IRM business, the Ahmedabad-based company said in an earnings release.
“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 Airports Holdings handled 20.3 million passengers, 1,42,000 air traffic movements and 1.8 lakh million tonnes of cargo during the quarter. Adani Road Transport received appointment date for Ganga Expressway and Kagal Satara Project, the company added.
Shares of Adani Enterprises rose 1.9 per cent to close at Rs 1,750 after the earnings announcement.