Profit was down 20 per cent when compared to the preceding quarter.
The consolidated revenue grew more than two-fold on-year to Rs 12,579 crore but declined 7 per cent sequentially. Earnings before interest, tax, depreciation, and amortisation (EBITDA) grew more than eight times to Rs 854 crore but declined 9 per cent sequentially. EBITDA margin came in at 6.8 per cent.
“AEL has always been the incubation engine of the Adani Group and our creation of several new businesses continues to accelerate,” Gautam Adani, the group’s chairman said in a press statement.
During the quarter, the company that incubates new businesses for the Adani Group completed the acquisition of the Mumbai International Airport. It also signed a concession agreement for 235 kilometres of road projects in the states of Odisha, West Bengal, Gujarat and Telangana. The company received the letter of approval from the Bihar Urban Infrastructure Development Corporation for a wastewater project at Bhagalpur.
The company’s joint venture with the Wilmar Group, Adani Wilmar, recently announced its plans to list on the bourses.
“AEL’s existing businesses are stronger than they have ever been and this year we have successfully anchored ourselves in several new businesses critical to a strong Atmanirbhar Bharat,” Adani said. These included airport ecosystems, data centres, and advanced road and water infrastructure.
“I see an exciting journey ahead given every one of these sectors possesses multiple adjacencies to our existing businesses. Our results demonstrate that this purposeful model is working for us and we will continue to strengthen on all fronts to deliver greater shareholder value,” Adani further said.
The stock of
closed at Rs 1,443 per share on the BSE, up 0.4 per cent.
