MUMBAI : Adani Enterprises, the diversified flagship company of the Gautam Adani group with interests in coal mining, solar module manufacturing and edible oil business, reported consolidated net profit of 266 crore, up 47% from the 181.17 crore it reported in year-ago period, backed by a massive increase in coal mining volumes. Revenue for the quarter was 13,236.62 crore, up 36% from 9766 crore from the year-ago period.

During the quarter, Adani took an impairment of non-current assets of 670.80 crore due to continuous delay in regulatory approval process and various legal challenges in two businesses – coal mining and renewables –in Australia, the company said in the exchange filing.

For the quarter, consolidated EBIDTA stood at 943 crores vs Rs. 994 crores in Q4 FY 18. For the full year, net profit rose 505.91 crore, down 15% year-on-year from 594.20 crore in FY18.

During the quarter, AEL divested its investment in its agri-logistics and thermal energy entities in order to consolidate operations, following which it recognised a net gain of 510.26 crores in consolidated results. The gain is recognised after adjusting impairment of noncurrent assets of 464.63 crores in energy business entities as per independent valuation reports, the company said. Earlier in the year, AEL’s renewable generation and city gas generation businesses have been demerged.

Coal mine and development operation volumes increased by 90% to 3.68 million tonnes (mt) as against 1.94 mt in Q4 FY 18 while coal management volume increased by 53% to 24.68 mt vs 16.13 mt in Q4 FY 18. Solar manufacturing volumes rose 29% to 260 MW as against 202 MW in Q4 FY 18.

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