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Adani Group’s flagship company, Adani Enterprises, declared a consolidated net profit of Rs 820 crore for the October-December 2022 quarter, compared to a loss of Rs 11.63 crore the previous year.
The company’s income from operations has increased 42 percent year on year to Rs 26,612.2 crore from Rs 18,757.9 crore.
According to Bloomberg forecasts, the company might earn Rs 29,245 crore in revenue and Rs 582.80 crore in net profit.
“Our fundamental strength lies in mega-scale infrastructure project execution capabilities, organisational development, and exceptional O&M management skills comparable to the best in the world,” Gautam Adani, chairman of the Adani Group, said.
Adani Airports handled 20.3 million passengers (a 40% increase year on year), 142,000 air traffic movements (a 21% increase year on year), and 1.8 lakh MT of cargo during the quarter, according to the earnings release.
“Our success is due to our strong governance, strict regulatory compliance, sustained performance, and solid cashflow generation.” “The current market volatility is temporary; AEL will continue to work with the twin objectives of moderate leverage and looking at strategic opportunities to expand and grow,” he added.