NEW DELHI: Adani Enterprises Ltd (AEL) on Wednesday said its net profit rose over fourfold to Rs 382.98 crore in the December 2019 quarter, helped by higher income.
The Adani Group's flagship firm had clocked a net profit of Rs 80.09 crore during the year-ago quarter, AEL said in a BSE filing.
Its total income during the October-December 2019 period was Rs 11,075.32 crore, higher from Rs 10,548.14 crore in the year-ago period. The company's expenses were Rs 10,635.16 crore, compared with Rs 10,443.76 crore a year ago.
In a statement, Adani Group Chairman Gautam Adani said, "We at Adani Enterprises continue to focus on incubating assets in the transportation and utilities space. These new India-centric businesses will be instrumental in the economic growth of the country. At the same time, it will endorse our work and take the benefits to masses." In the mining services business, production volume at the Parsa Kente coal mine in Chhattisgarh increased 26 per cent to 4.71 million tonnes (MT) as against 3.74 MT in the third quarter of 2018-19.
During the quarter, the coal production at Gare Pelma III mine in Chhattisgarh was commenced with a volume of 0.06 MT.
In solar manufacturing, the company has established India's largest solar cell and module manufacturing unit in Mundra SEZ.
The plant has an installed capacity of 1.2 gigawatt (GW) fully integrated cell and module manufacturing unit.
In the third quarter of 2021-20, volume witnessed a strong growth of 102 per cent to 283 megawatt (MW) modules as against 140 MW modules in the year-ago quarter.
In the food business, the company has 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.