Home >Companies >Company Results >Adani Enterprises Q1 result: Consolidated loss at 65.67 crore

NEW DELHI : Adani Enterprises on Thursday reported a consolidated loss of 65.67 crore for the first quarter ended June 30.

The Gautam Adani-led company had clocked a consolidated profit of 570.14 crore in the corresponding quarter a year ago, the company said in a BSE filing.

Its consolidated total income for the quarter declined to 5,502.02 crore, as against 10,685.86 crore during the year-ago period.

The total expenses also fell to 5,639.56 crore during the quarter under review, compared to 10,243.74 crore in the same period previous fiscal.

"Consolidated PAT (profit after tax) attributable to owners at 30 crores vs 601 crores in Q1 FY20. In Q1 FY20, there was a one-time income of 328 crores," the company said in a statement.

With continued lockdown and restrictions during this quarter, the company's volume across business segments have been affected, it added.

The company resumed its operations with "Safety First" approach duly following the government guidelines. The operational performance of the businesses continue to recover in phased manner towards Pre-COVID level, it said.

"Adani Enterprises Limited has always focused on businesses which are closely aligned to the lifeline of the economy, providing essential services to enhance the quality of life of citizens and addressing critical national infrastructure priorities.

"In midst of the pandemic, we see opportunity to expand our footprint and we continue to trace our path towards growth with goodness. Our focus continues to remain in optimizing capital utilisation, strengthening the organisational structure to mitigate risk ultimately laying the foundation for consistent value creation," Gautam Adani, Chairman, Adani Group, said.

Adani Enterprises Limited (AEL) is the flagship company of Adani Group with a diversified business portfolio comprising integrated coal management and mining services, solar modules manufacturing as well as edible oil business.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Edit Profile
My ReadsRedeem a Gift CardLogout