Adani Enterprises Ltd., the billionaire Gautam Adani-led conglomerate's flagship company, saw its first quarter profit jump.
Net profit increased 54% sequentially to Rs 469.5 crore in the quarter ended June, according to its exchange filing.
Adani Enterprises has interests in mining, infrastructure, road, rail and airport projects, among other sectors.
Adani Enterprises Q1 FY23 Key Highlights (QoQ)
Revenue stood at Rs 40,844.3 crore, up 64%.
Ebitda up 38% to Rs 1,742.4 crore.
Ebitda margin at 4.3% against 5%.
"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," said Gautam Adani, chairman of Adani Group.
"Through our partnership with TotalEnergies in ANIL, we have also
begun our journey to become the world's largest player in green hydrogen."
Recently, the company through a subsidiary has entered the industrial 5G space by participating in the spectrum auction.
Its market capitalisation has crossed Rs 3 lakh crore, making it the fourth Adani Group company to do so. Adani Transmission Ltd. is the group's most valued firm.
Shares of Adani Enterprises ended 0.45% higher before the results were announced compared with an almost unchanged Nifty 50.
Disclaimer: Adani Enterprises is in the process of acquiring a 49% stake in Quintillion Business Media Ltd., the owner of BQ Prime.
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