Adani Enterprises Ltd, (AEL) part of the Adani Group, on Wednesday announced its results for the second quarter ended September 30, 2021…reports Asian Lite News
For Q2 2022, consolidated total income increased by 46 per ent to Rs 13,597 crore due to significant increase in index prices in IRM segment.
Consolidated EBIDTA increased by 33 per ent to Rs 1,262 crore due to increase in revenue and better margins in IRM business.
Consolidated PAT attributable to owners from Established Businesses increased by 67 per cent to Rs 579 crore in line with higher EBIDTA. Overall Consolidated PAT attributable to owners stood at Rs 212 crore vs 362 crore.
“AEL continues to prove itself as India’s most successful incubator – and remains unmatched in developing exciting new ideas strategically linked to the Adani portfolio of companies,” said Gautam Adani, Chairman of the Adani Group.
GAUTAM ADANI, CHAIRMAN, ADANI GROUP: “AEL is both enhancing the span of companies it is incubating and accelerating the pace at which they are being incubated. We believe this is fundamental value creation in a world where digitisation has become the most significant business transformation vehicle ever known. AEL’s existing businesses are stronger than they have ever been – and, this year, we have launched several new businesses critical to a strong Atmanirbhar Bharat. These include a digital consumer aggregation platform, networked airport ecosystems, green data centres, and advanced road, metro and water infrastructure. I see an exciting journey ahead given that every one of these sectors possesses multiple adjacencies to our existing businesses. Our results demonstrate that this purposeful model is working for us and we will continue to strengthen on all fronts to deliver greater shareholder value.”
Adani Enterprises took over Jaipur, Guwahati and Thiruvananthapuram Airports in October 2021. It also completed acquisition of Mumbai International Airport. During the quarter it handled 6.5 mn passengers, 62,199 Air Traffic Movements and 1,63,860 MT Cargo.
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In roads, it has a portfolio of ten projects with NHAI for construction/operation of roads aggregating to 450 plus km. In the water segment, it signed concession agreement with Bihar Urban Infrastructure Development Corporation in October for Bhagalpur waste water project for 45 mn litres per day capacity.
In food business, maintained its leadership position with its “Fortune” brand and continues to lead the refined edible oil market with more than 20 per cent market share.