Adani Enterprises Q1 results: Net profit grows 44% to ₹674 crore, revenue falls 38%

livemint.com:

Adani Enterprises today announced its Q1 results with net profit growth of 44% year-on-year at ₹674 crore for the quarter ending June 2023. The company's revenue fell 38% YoY.

The company's consolidated total income stood at ₹25,810 crore on account of correction in coal prices. Consolidated EBIDTA (Earnings before interest, taxes, depreciation, and amortization) increased by 47% to Rs.

2,896 crore on account of strong operational growth. "Our expertise in executing large-scale projects, like Kutch Copper, Navi Mumbai Airport, the certification of India’s first 5 MW onshore wind turbine, coupled with our world-class O&M capabilities are fundamental drivers that continue to accelerate our infrastructure journey that is poised to play a significant role in meeting the aspirations of largest emerging middle class cohort in the world.

As we explore strategic expansion and growth, we remain committed to upholding the highest standards of governance, compliance and performance," said Gautam Adani, Chairman of the Adani Group. Over the years, Adani Enterprises has focused on building emerging infrastructure businesses, contributing to nation-building and divesting them into separate listed entities Adani Enterprises share price ended 2.37% higher on Thursday at ₹2,531.90 apiece on the BSE after the company posted its Q1 results.