अदानी एंटरप्राइजेज का Q4 शुद्ध लाभ 37% गिरकर 450 करोड़ रुपये हुआ।

Adani Enterprises Q4 net profit falls 37% to Rs 450 crore.

Adani Enterprises Ltd reports 37% drop in Q4 net profit due to one-time airport dues & mining losses.

Business
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02, May, 2024

Jyoti Ahlawat

@JyotiAhlawat

Adani Enterprises Q4 net profit falls 37% to Rs 450 crore.

On Thursday, Adani Enterprises Ltd, the flagship entity within Gautam Adani's conglomerate, disclosed a 37% decrease in its net profit for the March quarter, primarily attributed to one-time outstanding dues from past airport transactions and losses in commercial mining ventures.

According to the company's filing with the stock exchange, its consolidated net profit for January-March, the fourth quarter of the fiscal year 2023-24, amounted to Rs 450.58 crore, a decline from Rs 722.48 crore recorded in the corresponding period last year and Rs 1,888.45 crore in the preceding quarter.

Despite reporting an 8% decrease in EBITDA (earnings before interest, taxes, depreciation, and amortization) at Rs 3,646 crore in Q4, certain sectors within the conglomerate, such as new energy and airports, displayed robust growth. However, the firm incurred a loss of Rs 201.83 crore in commercial mining, while pre-tax earnings from the road business plummeted by 84% to Rs 222.03 crore.

Additionally, Mumbai International Airport Ltd (MIAL), a subsidiary of Adani Enterprises Ltd, recorded a one-time exceptional expense of Rs 627 crore to settle past dues. Adani New Industries Limited (ANIL), another subsidiary focusing on new energy ventures like solar module and wind turbine manufacturing, witnessed a substantial 6.2x increase in EBITDA to Rs 641 crore, while the EBITDA from airports business more than doubled to Rs 662 crore. The passenger traffic at company-operated airports saw a 19% rise to 88.6 million.

Despite the revenue from operations climbing to Rs 29,180.02 crore in the three months ending on March 31 from Rs 28,943.84 crore a year ago, the net profit for the full fiscal year 2023-24 surged by 31% to Rs 3,240.78 crore. This growth occurred even as revenue from operations decreased to Rs 96,420.98 crore from Rs 1,27,539.50 crore in the fiscal year 2022-23.

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