Adani Enterprises Q1 net profit dives 62 percent in to Rs 141 crore

Adani Enterprises reported a 61.77 per cent decline in its consolidated net profit to Rs 141.15 crore for the first quarter ended June 30.

Published: 12th August 2017 04:26 PM  |   Last Updated: 13th August 2017 07:34 AM   |  A+A-

Adani Group chairman Gautam Adani. (File | Reuters)

By Express News Service

NEW DELHI:  Despite a segmental performance growth in renewable energy and city gas distribution, Adani Enterprises Limited (AEL) posted a 61.77 per cent decline in its consolidated net profit to Rs 141.15 crore for the first quarter ended June 30 of FY18.

The flagship company of the Adani Group had posted a consolidated net profit of Rs 369.24 crore for the corresponding period last year. Total income of the company also came down to Rs 8,871.29 crore in the April-June period of the current fiscal from Rs 9,174.06 crore in the year-ago quarter, the company said in a BSE filing. Total expenses were at Rs 8,757.64 crore in first quarter of the current fiscal as against Rs 8,820.61 crore in the same period previous fiscal.

“We continue to focus on our portfolio of renewable energy, mining and agro businesses. Adani Enterprises remain committed to build and grow global scale businesses and creating assets of national importance,” Adani Group Chairman Gautam Adani said in a statement.The company said its “Coal MDO (Mine Development and Operations) volumes stood at 1.6 MMT in Q1 FY18”.

In its renewable energy business, the company operationalised projects of 808 Mw with a further pipleine of 1,280 Mw of projects under various stages of implementation across the country. In Q1 of FY18, AEL generated 362.99 million units (MU) Kw/h as compared to 104.94 MU Kw/h in Q1FY17 on account of operationalisation of projects.

Natural gas services
AEL is now at different stages of implementation of piped natural gas services to households, industrial and commercial consumers as well as compressed natural gas for automobiles

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