Adani Enterprises announced its January-March quarter results for fiscal 2023-24 (Q4FY24) on Thursday, May 2, reporting a drop of 38 per cent in net profit at ₹451 crore, compared to ₹723 crore in the corresponding period last year.
The port-to-power conglomerate’s flagship company’s revenue from operations rose marginally at O.8 per cent to ₹29,180 crore in the fourth quarter of FY24, compared to ₹28,944 crore in the year-ago period.
On a quarter-on-quarter basis, the total income was up 16.01 per cent. It was Rs 25,540.35 crore in Q3FY24.
The emerging core infra businesses comprising of ANIL Ecosystem, Airports and Roads are making significant strides in their operational performance. The contribution of these businesses to the overall EBIDTA has consistently increased to 45% for FY24 compared to 40% in FY23.
Gautam Adani, chairman of the Adani Group, said, “Adani Enterprises has once again validated its position not only as the premier business incubator in India but also as a global leader in infrastructure development. AEL’s resilient growth model of incubation confirms the operational and organisational excellence. This is supported by high ratings and fully funded growth. Our commitment to excellence in project management and operations continues to set global benchmarks, ensuring sustainable long-term value creation for our stakeholders. We remain dedicated to corporate governance, meticulous compliance, robust performance and effective capital flow management.”
For the entire financial year, the company reported a rise in net profit by 31.04 per cent at Rs 3,240.78 crore, compared to Rs 2,472.94 crore reported at the end of FY23.
The company’s revenue from operations for FY24 dropped by 24.39 per cent at Rs 96,420.98 crore, compared to Rs 127,539.50 crore in the previous financial year.
The company’s total income decreased by 23.65 per cent at Rs 98,281.51 crore in FY24, compared to Rs 128,734.09 crore reported in FY23.
The company announced an interim dividend of Rs 1.3 per share.
On Thursday, the stock price of Adani Enterprises Ltd closed at Rs 3,029.
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