Team News Riveting
Ahmedabad, May 4
Adani Enterprises Ltd (AEL), part of the Adani Group, today announced its results for the financial year and quarter ended March 31, 2023 with company’s cconsolidated income increased up by 96 per cent to Rs 1,38,175 crore.
“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. “The past year’s results represent indisputable evidence of the strength and resilience of the Adani Group’s operational and financial performance, he said, adding that the exceptional results also highlight their consistent track record of gestating and building critical infrastructure businesses.
The mega-scale infrastructure project execution capabilities coupled with Operation and Maintenance (O&M) management skills, which are comparable to the best in the world, are strengths that company continue to derive from the Adani portfolio’s diversity to create reliable long-term value for all its investors, Adani said. “Our focus remains on governance, compliance, performance, and cashflow generation,” he added.
Year-on-Year (y-o-y), Adani Enterprises total income increased by 96 per cent to Rs 1,38,175 crore in financial year 2022-23 (FY23) on account of strong performance by Integrated Resource Management (IRM) and Airport business. EBIDTA increased by 112 per cent to Rs 10,025 crore y-o-y on the back of growth in incubating businesses that included Airports and Roads apart from growth in IRM business in line with revenue. Attributable profit after tax (PAT) increased by 218 per cent to Rs 2,473 in line with increased EBIDTA.
In the fourth quarter of the FY23 ended March 31, 2023, company’s total Income increased by 26 per cent to Rs 31,716 crore on account of strong performance by IRM and Airports business. While the EBIDTA increased by 157 per cent to Rs 3,957 crore due to better operating performance across businesses, attributable PAT increased by 137 per cent to Rs 722 crore in line with increased EBIDTA.
The company said during the quarter, Adani Airports handled 21.4 million passengers (Up by 74 per cent YoY).
