Adani Enterprises Q4 profit zooms 138% to ₹722.48 cr; revenue up 26%

Adani group's flagship company Adani Enterprises has reported a 138% rise in consolidated net profit at ₹722.48 crore during the January-March quarter, as compared to ₹304.32 crore in the same quarter last year. Adani Enterprises' consolidated revenue surged over 26% to ₹31,346.05 crore during the said quarter from ₹24,865.52 crore in the year-ago period on account of strong performance by IRM and airports business.

On quarter-on-quarter (QoQ), the profit dipped 12% from ₹820.06 crore in Q3 FY23, while its revenue jumped 18% sequentially to ₹26,612.23 crore. Adani Enterprises' EBIDTA increased by 157% YoY to ₹3,957 crore for the said quarter on elevated operating performance across businesses.

Gautam Adani, Chairman, Adani Group, said the past year’s results represent "indisputable evidence of the strength and resilience" of the Adani Group’s operational and financial performance. "These exceptional results also highlight our consistent track record of gestating and building critical infrastructure businesses. Our mega-scale infrastructure project execution capabilities and our O&M management skills, which are comparable to the best in the world, are strengths that we continue to derive from the Adani portfolio’s diversity to create reliable long-term value for all our investors. Our focus remains on governance, compliance, performance, and cashflow generation,” he said.

For the whole year, Adani Enterprises' total income increased 96% to ₹1,38,175 crore on account of strong performance by integrated resource management (IRM) and airport business. Its EBIDTA increased 112% to ₹10,025 crore on the back of growth in incubating businesses, i.e. airports & roads, apart from growth in IRM business in line with revenue. The company's PAT for the full fiscal year increased by 218% to ₹2,473 crore.

During the quarter, Adani Airports handled 21.4 million passengers, which grew by 74% YoY. The air traffic movements for the quarter stood at 1,49,400, up 56% YoY and cargo surged 14% YoY to 1.8 lakh MT.

The Adani Enterprises board of directors has recommended dividend of ₹1.20 (120%) per equity share of face value of Re 1 each fully paid up for the financial year 2022-23, subject to approval by shareholders of the company.

The Adani Enterprises stock surged 4.68% to close at ₹1,925 on the NSE on Thursday. The stock has surged 3.69% in the past week; 13.37% in the past month. However, the stock has dipped 51.40% in the past six-month period; and 49.89% in the year-to-date period.