Adani Enterprises, the flagship company of the Adani Group, reported a 2.5-fold growth in its first quarter net profit to ₹601 crore, marked by a one-time gain of ₹328 crore recognised in its mine development and operations (MDO) business.
The rise in profit came on a 39% growth in revenue to ₹10,686 crore and 85% growth in EBDITA to ₹896 crore.
Gautam Adani, chairman Adani Group, said, “Adani Enterprises continues to make significant strides in lining up the next set of businesses including airport management, data centre parks, roads, water infrastructure and defence and aerospace. Its business portfolio has never been stronger and each of these businesses is led by focus on growth markets with offerings in the right product segments and compelling value proposition.”
In MDO business at Parsa Kente coal mines in Chhattisgarh, the company had supplied washed coal of 2.39 MMT to RRVUNL in Q1 FY 20 as compared to 2.15 MMT in Q1 FY 19, showing an increase of 11%.
The company has established one of India’s largest solar cell and module manufacturing units in Mundra SEZ. The plant has an installed capacity of 1.2 GW fully integrated cell and module manufacturing unit. Q1 FY 20 volumes increased by 191% to 236 MW modules vs. 81 MW modules in Q1 FY 19.
In the food business, the company continued to lead the refined edible oil market with more than 20% market share, said a statement.
