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Adani Enterprises Q1 Revenue Surges 223 Per Cent To Rs 41,066 Crore
Adani Enterprises Q1 Revenue Surges 223 Per Cent To Rs 41,066 Crore

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The company’s attributable profit after tax increased by 73% to Rs 469 crore in the first quarter.

Ahmedabad (Gujarat):

Adani Enterprises Ltd (AEL), part of Adani Group, on Thursday said its consolidated revenue surged by 223 per cent year-on-year to Rs 41,066 crore for the quarter ended June 30, 2022, on the back of strong performance by integrated resources management (IRM) and airport business.

The company’s EBIDTA jumped by 107 per cent to Rs 1,965 crore due to full consolidation of airports business and improved realisations in IRM business.

The company’s attributable profit after tax (PAT) increased by 73 per cent to Rs 469 crore in the first quarter of the current financial year in line with EBIDTA.

“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,” Gautam Adani, Chairman of Adani Group, said in a statement.

“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,” he said.

“AEL’s high growth lays the foundation for us to accelerate the continued development of new businesses like data centres, airport ecosystems, road and water infrastructure, defence 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,” Mr Adani added.

As part of a deal TotalEnergies has agreed to invest in Adani Group to buy 25 per cent stake in Adani New Industries Limited (ANIL).

During the first quarter of the current financial year, the company completed Rs 7,700 crore primary equity transaction with Abu Dhabi-based International Holding Company (IHC) for 3.5 per cent stake.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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