Adani Enterprises Q3 Results: Profit More Than Doubles On Higher Margin

The net profit of billionaire Gautam Adani-led coal to aviation company rose 166% to Rs 1,972.8 crore in the quarter ended December.

<div class="paragraphs"><p>(Source: Adani Enterprises website)</p></div>
(Source: Adani Enterprises website)

Adani Enterprises Ltd.'s net profit for the third quarter of fiscal 2024 more than doubled on higher operating profit and margin.

The net profit of billionaire Gautam Adani-led coal to aviation company rose 166% to Rs 1,972.8 crore in the quarter ended December, according to its exchange filing.

Adani Enterprises Q3 FY24 (Consolidated, YoY)

  • Revenue from operations rose 6.5% to Rs 28,336.4 crore.

  • Operating profit, or Ebitda, increased 106.7% to Rs 3,126.3 crore.

  • Ebitda margin was up 535 bps to 11.03% vs 5.68% a year ago.

Adani Enterprises' emerging core infra businesses under the incubation pipeline have shown strong operational performance and consistently reflected significant contribution to the growth journey during the last nine months of this fiscal, the company said.

The incubating businesses, comprising green hydrogen ecosystem, airports and roads contribute 45% of the overall Ebitda, it said.

“Adani Enterprises has had a robust third quarter, with two of our major incubating businesses picking up momentum,” said Gautam Adani, chairman of the Adani Group.

“Our ongoing commitment to enhancing customer satisfaction and redefining the overall consumer experience at our airports remains steadfast. We are also pleased with the pace of our advance in establishing a fully integrated manufacturing chain for green hydrogen production," Adani said.

The scale of opportunities these businesses present is not only unprecedented but also allows the Adani Group flagship company to strongly position ourselves as a leading source of clean, sustainable and affordable alternative energy, it said.

Adani New Industries Ecosystem

Solar Manufacturing

The company has achieved an operational module line capacity of 4 GW. It has continued with production of wafer from its pilot plant, while commissioning of 2 GW plant has progressed as per schedule.

Wind Turbine Manufacturing

The order book for wind turbine manufacturing in Q3 FY24 was 142 sets. The company produced 15 wind turbine generation sets and supplied seven sets.

The production ramp-up of blade, nacelle and hub facility was in line with delivery schedule.

Electrolysers Manufacturing

The company has received a Letter of Award for set-up of annual manufacturing capacity of 198.5 MW. Civil foundation and flooring works were completed for the testing and laboratory set up

AdaniConnex (ACX-Data Center)

The construction work at the 50 MW Noida Data Center is 74% complete.

Construction work at the Hyderabad Data Center is around 85% complete for Phase-1 of 9.6 MW.

The company has 112 plus MW from Hyperscale Enterprise customers.

Adani Airports Holdings (AAHL-Airports)

The company's airports division has added 19 new routes, nine new airlines and five new flights in Q3 FY24.

It also said that its progress on construction of the Navi Mumbai airport is on schedule.

Adani Enterprises shares closed 0.35% higher, as compared with a 0.15% fall in the benchmark Sensex.

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