Adani Enterprises Q1 PAT grows 44% to Rs 677 cr

New Delhi: Adani Enterprises on Thursday posted 44.41 per cent jump in consolidated profit after tax (PAT) at Rs 676.93 crore for June quarter 2023-24 on account of reduced expenses.

It had reported Rs 468.74 crore PAT for the same period a year ago, the company said in a BSE filing.

Total income however fell to Rs 25,809.94 crore from Rs 41,066.43 crore in the year-ago quarter.

Expenses also reduced to Rs 24,731.42 crore from Rs 40,433.96 crore a year ago.

"These results are a validation of our group's robust operational and financial achievements. These outcomes, led by our incubating business of Adani Airports, Adani New Industries, Data Center and Adani Roads, not only underscore our history of creating and nurturing new and vital infrastructure businesses but also emphasise the future value and growth potential of the diverse Adani portfolio," Gautam Adani, Chairman of Adani Group, said in a separate statement.

The group's expertise in executing large-scale projects, like Kutch Copper, Navi Mumbai Airport, the certification of India's first 5 MW onshore wind turbine, coupled with world-class O&M (operation and maintenance) capabilities are fundamental drivers that continue to accelerate the group's infrastructure journey, he said.

Adani Enterprises Limited (AEL) is the flagship company of Adani Group.

Sharing business updates, AEL said AdaniConnex Pvt Ltd (ACX - Data Center) has completed 74 per cent work of the Chennai Phase-II data centre project, 51 per cent work of the data centre in Noida and 46 per cent work of the data centre in Hyderabad.

During the quarter, Adani Airports handled 21.3 million passengers , up 27 per cent over April-June FY23.

Module sales by Adani New Industries Ecosystem increased by 87 per cent to 614 megawatt (MW). The company's operational capacity was 4 GW (gigawatt).

The company also made its Nacelle wind turbine facility operational and the blade manufacturing facility ready for commercial production. It also secured financial closure of Rs 900 crore for ingot and wafer manufacturing.