Adani Enterprises posts 6 pc jump in Q3 total income at Rs 11,788 cr
Feb 03, 2021
Ahmedabad (Gujarat) [India], February 3 (ANI: Adani Enterprises Ltd on Wednesday reported six per cent increase in its consolidated total income for the third quarter ended in December 2020 at Rs 11,788 crore due to burgeoning sales in the solar manufacturing business.
The earnings before interest, taxes, depreciation and amortisation (EBIDTA) too increased by six per cent at Rs 939 crore owing to increased sales in domestic content requirement segment in solar manufacturing business, leading to better margins.
The profit after tax attributable to owners for Q3 FY21 was Rs 297 crore versus Rs 426 crore in the corresponding period of previous fiscal due to exceptional write off of exploration block on termination by the Ministry of Petroleum and Natural Gas.
Gautam Adani, Chairman of Adani Group, said Adani Enterprises continued its journey towards laying the foundation for several new businesses that the Group is venturing into. These include airports, data centres, roads and water.
"The fact that Adani Enterprises was able to grow its revenue and EBIDTA through a year of crisis is a reflection of the resilience of India's economy as well as our confidence and commitment to continue to invest to build our nation's infrastructure," he said in a statement.
In agro business, total revenue for Q3 FY21 increased by 31 per cent at Rs 10,257 crore. EBIDTA for the quarter remained constant at Rs 323 crore.
The company's solar manufacturing volume stood at 285 megawatts while mining services production increased by six per cent at 5.1 million tonnes.
The integrated resource management volume increased by five per cent at 21.4 million tonnes. Besides, Adani Enterprises signed concession agreement for Guwahati, Jaipur and Thiruvananthapuram airports on January 19.
The company said shareholders' value increased at a compound annual growth rate of 105 per cent in the past three years.
