Adani Enterprises Q2 results: Consolidated profit recorded as Rs 436 crore

Adani Enterprises, the flagship company of the Adani group on Wednesday reported a consolidated profit of Rs 436 crore for the second quarter.

Adani Enterprises, the flagship company of the Adani group on Wednesday reported a consolidated profit of Rs 436 crore for the second quarter. It recorded the total consolidated income as Rs 9,312.14 crore for this quarter and Rs 8,626.94 crore, year on year basis. The total expenses escalated to Rs 8,788.59 crore in the September quarter compared to Rs 8,571.75 crore in the same period a year ago.

“The EBIDTA (Earnings Before Interest, Depreciation, Taxes and Amortisation) for the quarter increased by healthy 76 per cent at Rs 951 crore owing to better volumes in mining services and solar manufacturing businesses,” the company said in a statement.

The PAT (Profit After Tax) attributable to owners for Q2 FY21 was Rs 362 crore in comparison with Rs 50 crore in the year-ago period in accordance with the rise in EBIDTA margins, the statement said. The PAT was also affected by the exceptional write off of Rs 130 crore.

“The combination of our confidence in this business model, and our faith in India’s growth story is demonstrated through the investments we are continuing to make in additional infrastructure sectors that are critical to nation-building,” Adani Group Chairman Gautam Adani said.

Further, he added that the move into roads and water infrastructure, data centre parks, and airports, including the addition of the Mumbai International Airport and the Navi Mumbai International Airport, “provides us with a transformational platform that will help us create several strategic and growth-based adjacencies for our other businesses”.

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