Adani Enterprises posts 116 per cent Q1 profit rise, 13 per cent revenue growth

New Delhi (India), August 1 (ANI): Adani Enterprises Ltd, the parent company of the Adani Group, on Thursday announced its results for the April-June quarter 2024.

The company said total income or revenue during the April-June quarter stood at Rs 26,067 crore, up 13 per cent year-on-year as compared to Rs 23,016 crore recorded in the same period of FY23.

The Adani Group flagship reported a massive 116 per cent jump in net profit at Rs 1,458 crore, compared to Rs 675 crore reported in the same quarter of FY23.

The growing core infrastructure businesses, including the ANIL ecosystem, airports and roads, continue to make significant progress in their operational efficiency.

The share of these businesses in overall EBITDA profit increased to 62 per cent in the first quarter of fiscal year 2024-2025 compared to 45 per cent in the first quarter of the corresponding quarter.

“Adani Enterprises Ltd (AEL) is cementing its position as India’s leading business incubator and a global model for infrastructure development,” said Gautam Adani, Chairman, Adani Group.

“The significant growth in our EBITDA, driven by the exceptional performance of ANIL’s ecosystem, our airport operations and road construction business, underlines our commitment to operational excellence and sustainable value creation. The combination of best-in-class management practices, cutting-edge technologies, strong ratings and fully funded growth strategies ensures that AEL continues to set new domestic and international benchmarks,” Gautam Adani said, according to a company release.

Adani Enterprises Limited (AEL) is the flagship company of Adani Group, one of the largest business organizations in India. Over the years, Adani Enterprises has focused on building emerging infrastructure businesses, divesting them into separately listed entities—Adani Ports and SEZ, Adani Energy Solutions, Adani Power, Adani Green Energy, Adani Total Gas and Adani Wilmar.

“Adani Enterprise continues to incubate new businesses and create sustainable, long-term value for its stakeholders. Over the years, we have a proven track record of successfully incubating businesses across sectors that are now leaders in their sectors and delivering significant returns to their shareholders,” Group CFO Jugshinder Singh said in a video message.

He also informed that the Greenfield-Ganga Expressway project is progressing well and on schedule. Three of the 10 ongoing projects are now more than 80 percent completed on schedule.

He also added that during the April-June quarter, Adani Airports added eight new routes, six new airlines and 30 new flights across its seven operational airports.

The much-awaited Greenfield Navi Mumbai Airport project is scheduled for completion by 2024-2025.

The road portfolio saw the construction of 730 kilometres of lanes this quarter, which he said was the highest number in the history of the quarter since the start of operations. (ANI)