Adani Registers 7 Times Profit Growth
Adani Enterprises reported over sevenfold jump in consolidated net profit to Rs 570.14 crore for the quarter ended June 30, 2019 on the back of higher income. The Gautam Adani group company had clocked a profit of Rs 80.14 crore in the year-ago period, Adani Enterprises said in a BSE filing. The company said the net profit attributable to owners for June quarter 2019-20 increased to Rs 601 crore as against Rs 169 crore in the same period of 2018-19. This includes one-time income of Rs 328 crore recognized in the company’s MDO (Mine Development and Operations) business. Total income grew 39% during the quarter under review to Rs 10,685.86 crore from Rs 7,664.20 crore in the year-ago period.
Total expenses also rose to Rs 10,243.74 crore compared to Rs 7,739.04 crore a year earlier. “Adani Enterprises continues to make significant strides in lining up the next set of businesses that included airport management, data centre parks, roads, water infrastructure and defense and aerospace. “Its business portfolio has never been such stronger and each of these businesses led by focus on growth markets with offerings in the right product segments and compelling value proposition,” said Gautam Adani, Chairman Adani Group.