Emerging Business Share In Adani Group's Operating Profit Doubles In June Quarter

The contribution of Adani Enterprises Ltd.'s emerging businesses to the group's operating profit has nearly doubled from the year-ago period. The company's emerging business comprises its green hydrogen projects subsidiary, ANIL, airports, and roads.

"These fast-growing businesses now contribute 13.3% to the portfolio-level Ebitda, up from 7.2% a year ago," a press release by the group said.

Overall, the group's Ebitda surged by 32.87% on the year to reach Rs 22,570 crore, resulting in a trailing twelve-month Ebitda of Rs 79,180 crore, marking a 45.13% increase over the corresponding TTM of the previous year.

During the quarter, the company's solar module manufacturing business saw a 125% year-on-year increase in module sales. "Furthermore, photovoltaic cell lines becoming operational lowered costs, resulting in higher profitability," the company said.

The solar manufacturing business achieved a cost optimization of 27.5% duty on cell imports, according to the group's results snapshot.

On its airport business, the release said that it continues to see strong growth from rising passenger movement, increasing consumer offerings, and the addition of routes, airlines, and flights across seven operational airports.

In the June quarter, the annual passenger movement across seven airports crossed 90 million for the first time, and the company added eight new routes, six new airlines, and 13 new flights across all seven airports. "Further, 25 new brands were added at Lucknow airport after the Terminal 3 inauguration," it said.

According to the group's result snapshot, ANIL Wind has an order book of 254 sets and supplied 41 sets in the June quarter, and the company crossed the 200th blade production milestone, the company said. It also received a final type certificate for a 3-megawatt wind turbine generator and applied for a revised list of models and manufacturer listings.

Adani Enterprises Ltd. reported a profit of Rs 1,776 crore in the June quarter, up by 161.93% from the year-ago period. This was led by growth in emerging businesses, the company said.

"This expansive yet resilient growth is attributed to Adani's strategic focus on its infrastructure platform, which provides high stability and predictability," the group said.