Adani Enterprises Ltd Q1 Results FY2023, Net Profit at Rs. 468.74 crores

On 4th August 2022, Adani Enterprises Ltd announced its quarterly results for the first quarter of FY2023.

Q1FY23 Key Highlights:

- The company reported revenue from operations at Rs. 40844.25 crores with a growth of 224.71% YoY.

- Total Income increased by 223% to Rs. 41,066 Crores on account of strong performance by IRM and Airport business

- EBIDTA increased by 107% to 1,965 Crores due to full consolidation of airports business and improved realizations in IRM business

- Attributable PAT increased by 73% to Rs. 469 Crores in line with EBIDTA

Business Highlights:

- During the quarter, Adani Airports handled 16.6 Million passengers, 126 k Air Traffic Movements, and 2.3 Lakhs MT Cargo.

- Adani Road Transport Ltd received provisional COD for the Bilaspur HAM Road project

- Construction activities have also started in Azhiyur Vengalam, Kodad Khammam, Badakumari Karki & Panagarh Palsit road projects

- Concession agreement signed for Kagal-Satara road project of 65 KMs in Maharashtra state under BOT basis

- 97% of the construction of Chennai Data Center was completed by AdaniConnex and Construction at Noida Data Center started.

Commenting on the results,  Mr. Gautam Adani, Chairman of the Adani Group said: “While our diversified growth is reflected across our range of businesses, Adani Enterprises continues to prove itself as one of the world's most successful multi-industry incubators.

AEL's incubation strategy has no parallel and we intend to further leverage this unique business model as we transform the Adani Group into an integrated ‘platform of platforms’ with unprecedented access to the Indian consumer. AEL's high growth lays the foundation for us to accelerate the continued development of new businesses like data centers, airport ecosystems, road and water infrastructure, defense and aerospace, and digital technology services. Through our partnership with TotalEnergies in ANIL, we have also begun our journey to become the world's largest player in green hydrogen."