Adani Enterprises posts 62% jump in Q3 profit at Rs340 crore
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Ahmedabad: Adani Enterprises Ltd (AEL), part of the Adani Group, posted a consolidated net profit of Rs340 crore for the quarter ended 31 December, a 62% increase from a year earlier.
The company, which is in the business of mining, agro, renewable energy and city gas distribution, said in a media statement Tuesday evening that revenue rose to Rs8,606 crore from Rs7,895 crore in the same period last year.
“Adani Enterprises demonstrated encouraging performance backed by mining, city gas and renewable businesses. Government’s focus of strong spending on infrastructure and energy space coupled with improving utilization and cost optimization enables the company to deliver on its growth plans,” executive director Ameet Desai said in the statement.
According to Gautam Adani, chairman of the Adani Group, the government’s initiatives to curb the parallel economy and other reforms augured well for AEL’s businesses. “We at Adani Enterprises continue to focus on business opportunities with sustainable returns and value enhancement,” he added.