Team News Riveting
Adani Enterprises Limited, the flagship company of one of India’s largest business organisations Adani Group, has reported financial results for the quarter period ended December 31, 2020.
The company has reported a total income of Rs11788 crore during the period ended December 31, 2020 as compared to Rs 9312.14 crore during the period ended September 30, 2020.
It had posted net profit of Rs 296.81 crore for the period ended December 31, 2020 as against net profit of Rs 362.37 crore for the period ended September 30, 2020. The group took over the operations, management and development of Mangalore, Lucknow and Ahmedabad Airports during the quarter.
The company has reported a total income of Rs 26601.98 crore during the 9 months period ended December 31, 2020 as compared to Rs 30388.12 crore during the 9 months period ended December 31, 2019. It has posted net profit of Rs 688.97 crore for the 9 months period ended December 31, 2020 as against net profit of Rs 1076.96 crore for the 9 months period ended December 31, 2019.
The company has reported EPS of Rs.6.26 for the 9 months period ended December 31, 2020 as compared to Rs.9.79 for the 9 months period ended December 31, 2019.
Gautam Adani, Chairman Adani Group, said, “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. The fact that Adani Enterprises was able to grow its Revenue and EBITDA 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.”
The business highlights in the mining services during the quarter included production volume at Parsa Kente mine in Chhattisgarh standing at 4.2 MMT against 4.7 MMT and 0.6 MMT against 0.06 MMT at GP III mine, Chhattisgarh. Volume at Talabira II and III mine, Odisha which commenced in the first half of FY21, was 0.3 MMT.
The company signed coal block development and production agreement for two commercial mines; Dhirauli (3 MTPA) in the state of Madhya Pradesh and Gondulpara (4 MTPA) in the state of Jharkhand during the quarter.
