Adani Enterprises Q3 results: Firm posts net profit of ₹820 cr against loss YoY, revenue up 42%; shares rally

  • Adani Enterprises shares bounced back from lows to trade more than 3% higher on the BSE after the Q3 results announcement

Updated14 Feb 2023
Adani Enterprises
Adani Enterprises

Adani Enterprises Ltd on Tuesday reported a consolidated net profit (attributable to owners of the company) of 820 crore during the third quarter of the current fiscal as compared to net loss of 12 crore in the year ago quarter. It had posted a profit of 460 crore in the previous quarter of September 2022. Shares of Adani Enterprises bounced back from lows to trade more than 3% higher at 1,791 apiece on the BSE in afternoon deals after the earnings announcement.

The Adani Group's flagship company's revenue from operations rose 42% to 26,612 crore in the Q3 of FY23 as compared to 18,758 crore in the same quarter of the last fiscal. Its total expenses surged to 26,171 crore versus 19,047.7 crore year-on-year (YoY).

The company said its earnings Before Interest, Taxes, Depreciation, and Amortisation (EBIDTA) increased by 101% during the quarter under review to 1,968 crore.

Adani Enterprises shares have declined more than 50% in the last month amid the rout in the Group stocks since January 24 report by the US-based short-seller Hindenburg Research that accused the conglomerate of several wrongdoings even as the Group has repeatedly denied the claims. 

Gautam Adani on Adani Enterprises Q3 results

“Over the past three decades, as well as quarter after quarter and year after year, Adani Enterprises has not only validated its standing as India’s most successful infrastructure incubator but has also demonstrated a track record of building core infrastructure business,” said Mr Gautam Adani, Chairman of the Adani Group.

“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. AEL’s exceptional resilience and capacity to build highly profitable core sector business indicate how our strategy of harnessing the diverse strengths of the Adani portfolio of companies is creating consistent long-term value for all our stakeholders. Our success is due to our strong governance, strict regulatory compliance, sustained performance, and solid cashflow generation. 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," he added.

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HomeNewsIndiaAdani Enterprises Q3 results: Firm posts net profit of ₹820 cr against loss YoY, revenue up 42%; shares rally

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