Adani Enterprises Ltd on Tuesday reported a consolidated net profit of Rs 820 crore during the quarter ended December 2022 (Q3 FY23) as compared to net loss of Rs 12 crore in the year ago quarter (Q3 FY22)
New Delhi: Adani Enterprises Ltd on Tuesday reported a consolidated net profit of Rs 820 crore during the quarter ended December 2022 (Q3 FY23) as compared to net loss of Rs 12 crore in the year ago quarter (Q3 FY22). Adani Enterprises had posted a profit of Rs 460 crore in the previous quarter ended September 2022 (Q2 FY23).
Meanwhile, revenue from operations rose nearly 42 per cent on year to Rs 26,612.23 crore. The consolidated operating profit, which is calculated as earnings before interest, taxes, depreciation and amortization (EBITDA), doubled year on year (YoY) to Rs 1,968 crore, the company said.
“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,” Chairman Gautam Adani said.
While the integrated resource management business reported a 38 per cent YoY growth in revenue to Rs 17,595 crore, there was nearly a three-fold rise in the to Rs 2,044 crore.
The business revenue from the new energy ecosystem grew twice to Rs 1,427.40 crore. In this space, Adani Enterprises saw an increase in solar modules’ volume by 63 per cent to 430 MW.
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