Adani Enterprises Q3 Earnings
Published On: Tuesday, February 14, 2023 | By: Team KnowMyStock
Shares of Adani Enterprises (AEL) jumped 10 percent to an intra-day high of Rs 1,889, bouncing 17 percent from the day's low on the BSE on Tuesday soon after the company announced its October-December quarter (Q3FY23) earnings. The company reported a consolidated net profit of Rs 820 crore for the quarter that ended December, against a net loss of Rs 11.63 crore a year ago. The company recorded a 42% increase in total income to Rs 26,951 crore and EBIDTA increased by an impressive 101% to Rs 1,968 crore on account of strong performance by Adani New Energy Limited (ANIL) Ecosystem, integrated resources management (IRM), and Airports business. AEL’s said ANIL Ecosystem solar modules volume rose 63 percent to 430 MW. The company handled 20.3 million passenger movements at seven operational Airports increasing by 40 percent over the previous year's quarter. IRM volume increased by 8 percent to 15.8 MMT and Mining services production volume stood at 6.2 MMT.
“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.
“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," Adani group Chairman Gautam Adani said.
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