Today, Adani enterprises reported a decline of 10.39% in it’s consolidated profit, it stands now at Rs 343.17 crore for the quarter end December 2020, in comparison to Rs 382.98 crore in the year ago period.
The Gautam Adani-led company announced in a regulatory filing that Its consolidated total income for the latest quarter rose to Rs 11,787.82 crore from Rs 11,075.32 crore in the year-ago period, and total expenses increased to Rs 11,303.97 crore compared to Rs 10,635.16 crore in the same period previous fiscal.
The company statement read, “Consolidated Total Income for the quarter increased by 6% at Rs 11,788 crore owing to increased sales in Solar Manufacturing business. The EBIDTA for the quarter increased by 6% to Rs 939 crore owing to increased sales in Domestic Content Requirement segment in Solar Manufacturing business, leading to better margin.”
The profit after tax (PAT) attributable to owners for Q3 FY21 was Rs 297 crore as against Rs 426 crore a year ago, owing to exceptional write off of exploration block on termination by the Ministry of Petroleum and Natural Gas.
“Adani Enterprises continued its journey towards laying the foundation for several new businesses that the Group is venturing into. These include Airports, Data Centers, Roads, and Water,” it further said.
Gautam Adani, Chairman Adani Group, said, “The fact that Adani Enterprises was able to grow its Revenue and EBIDTA through a year of crisis is a reflection of the resilience of India’s economy as well as our confidence and commitment to continue to invest to build our nation’s infrastructure.”