New Delhi, May 4 (FN Agency) Adani Enterprises Ltd (AEL) on Thursday reported more than doubling of its consolidated net profit to Rs 722.48 crore in the January-March quarter (Q4) of the financial year 2022-23 as against Rs 304.32 crore in the corresponding period a year ago. Billionaire Gautam Adani-led AEL saw its total income rising 26% to Rs 31,716 crore in March quarter on account of strong performance by integrated resource management (IRM) and airport business. Earnings before interest, taxes, depreciation, and amortisation (EBIDTA) increased by 157% to Rs 3,957 crore due to better operating performance across businesses, a regulatory filing to stock exchanges said.
“Once again, Adani Enterprises has lived up to its standing as not only India’s most successful business incubator but also one of the world’s most successful infrastructure foundries,” said Gautam Adani, Chairman, Adani Group. Total income of the company in the full financial year ending March 2023 increased by 96% to Rs 1,38,175 crore as compared to Rs 70,433 crore in the previous year. Attributable profit after tax (PAT) increased by 218% to Rs 2,473 in FY23 in line with increased EBIDTA. Gautam Adani said that past year’s results represent indisputable evidence of the strength and resilience of the Adani Group’s operational and financial performance. “These exceptional results also highlight our consistent track record of gestating and building critical infrastructure businesses.
Our mega-scale infrastructure project execution capabilities and our O&M management skills, which are comparable to the best in the world, are strengths that we continue to derive from the Adani portfolio’s diversity to create reliable long-term value for all our investors. Our focus remains on governance, compliance, performance, and cashflow generation,” he said. Adani Enterprises shares closed 3.85% higher at Rs 1909.30 on the BSE on Thursday. The AEL Board has recommended a dividend of Rs 1.20 per equity share of face value of Re. 1 each fully paid up for the Financial Year 2022-23, subject to approval by shareholders of the company.