Team News Riveting
Ahmedabad, February 14
Adani Enterprises Ltd (AEL), part of the Adani Group, today announced its results for the nine months (9M) and third quarter (Q3) of the current financial year (FY23) ended December 31, 2022.
Company’s total consolidated income during 9M FY23 year-on-year (YoY) basis increased by 135 per cent to Rs 1,06,459 crore (US$ 12.9 bn) on account of strong performance by IRM and Airport business. EBIDTA increased by 90 per cent to 6,068 crore (US$ 733.5 mn) in line with increased volume of Airport and IRM business, the company said in a statement. Attributable profit-after-tax (PAT) increased by 271 per cent to Rs. 1,750 crore (US$ 211.5 mn) in line with EBIDTA, it added.
“Over the past three decades, as well as quarter after quarter and year after year, Adani Enterprises has not only validated its standing as India’s most successful infrastructure incubator but has also demonstrated a track record of building core infrastructure business,” said Gautam Adani, Chairman of the Adani Group. “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. AEL’s exceptional resilience and capacity to build highly profitable core sector business indicate how our strategy of harnessing the diverse strengths of the Adani portfolio of companies is creating consistent long-term value for all our stakeholders. Our success is due to our strong governance, strict regulatory compliance, sustained performance, and solid cashflow generation. The current market volatility is temporary; and as a classical incubator with a vision of long-term value creation, AEL will continue to work with the twin objectives of moderate leverage and looking at strategic opportunities to expand and grow.”
AEL’s total consolidated Income increased by 42 per cent to Rs 26,951 crore (US$ 3.3 bn) on account of strong performance by ANIL Ecosystem, Airports and IRM business during Q3 FY23 on YoY basis. While EBIDTA increased by 101 per cent to 1,968 crore (US$ 237.9 mn) in line with increased volume of ANIL Ecosystem and IRM business, attributable PAT increased to Rs. 820 cr (US$ 99.1 mn) in line with EBIDTA against the loss of Rs 12 crore (US$ 1.5 mn) in Q3 FY22.
Adani Enterprises Limited (AEL) is the flagship company of Adani Group, one of India’s largest business organisations. Over the years, Adani Enterprises has focused on building emerging infrastructure businesses, contributing to nation-building and divesting them into separate listed entities. Having successfully built unicorns like Adani Ports & SEZ, Adani Transmission, Adani Power, Adani Green Energy, Adani Total Gas and Adani Wilmar, the company has contributed significantly to make the country self-reliant with our portfolio of robust businesses. This has also led to significant returns to our shareholders over 25+ years.
