MUMBAI: Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, on Tuesday reported an 8-fold or 664% year-on-year (YoY) jump in its September quarter consolidated net profit at Rs 1,742 crore as against Rs 228 crore reported by it in the year-ago period.
The company's revenue from operations grew by 16% to Rs 22,608 crore in the reported quarter compared to Rs 19,546 crore in the corresponding quarter of the previous fiscal.
“This record-breaking half-year performance has been led by Adani New Industries Ltd (ANIL) and Adani Airport Holdings Ltd (AAHL) with their rapid growth in capacity additions and asset utilisation,” said Gautam Adani, Chairman of the Adani Group.
He added, “Our focus on execution of greenfield projects in ANIL across three giga scale integrated manufacturing plants and the accelerated development of Navi Mumbai International Airport are driving these robust results. Further, AEL is poised to repeat this turbo growth across data centres, roads, metals & materials and specialized manufacturing.”
AEL has announced plans to raise Rs 2,000 crore through the issuance of non-convertible debentures (NCDs). These NCDs will be offered in one or more tranches via a public issue
Additionally, Adani Ports and Special Economic Zone Ltd (APSEZ)’s net profit for the quarter ended September rose 40% to Rs 2,445 crore. It reported net profit of Rs 1,748 crore in the year-ago quarter.
Revenue from operations for the country’s biggest port operator rose 6% to Rs 7,067 crore in Q2FY25 as against Rs 6,646 crore in Q2FY24.
We are pleased to witness continued growth across our operations, with our existing ports delivering strong volume ramp-ups and new capacity additions progressing as planned in Gopalpur, Vizhinjam and Colombo,” said Ashwani Gupta, Whole-time Director & CEO, of Adani Ports and Special Economic Zone Limited (APSEZ).
“During the quarter, we also diversified our marine fleet, adding 26 offshore support vessels. Our logistics business too achieved robust growth, enhancing last-mile connectivity through expansions in rakes, warehousing, MMLPs and agri-silos. Mundra Port’s remarkable milestone of crossing 100 MMT in 181 days and our cargo volume trajectory reaffirm our confidence in delivering our FY25 cargo guidance and hitting the upper end of our EBITDA guidance for the year,” added Gupta.