Adani Enterprises Q3 Results: Group Flagship Bounces Back To Profit

Adani Enterprises Ltd., the flagship of the Adani Group, returned to profit in the quarter ended December.

The company reported a consolidated net profit of Rs 820 crore in the third quarter, compared with a loss of Rs 11.6 crore a year earlier, according to its exchange filing.

Adani Enterprises (Consolidated, YoY)

• Revenue up 41% at Rs 26,612.2 crore.

• Ebitda up 111% at Rs 1,629.1 crore.

• Margin at 6.1% vs 4.1%.

• Net profit at Rs 820 crore vs a loss of Rs 11.6 crore.

Adani Enterprises is the incubator firm of the ports-to-mining Adani Group. Thereby, the company's earnings reflect revenue from segments including the coal supply chain, mining, airports, new energy, and others.

The company's revenue from the coal supply business rose to Rs 17,594.9 crore from Rs 12,735.2 crore a year ago, while revenue from mining, airports and new energy ecosystem doubled year-on-year.

"Our success is due to our strong governance, strict regulatory compliance, sustained performance, and solid cash flow generation," said billionaire Chairman Gautam Adani.

The current market volatility is temporary, he said. "As a classical incubator with a vision of long-term value creation, Adani Enterprises will continue to work with the twin objectives of moderate leverage and looking at strategic opportunities to expand and grow."

Shares of Adani Enterprises erased losses to rise after the earnings were announced.

Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.