Adani Group's flagship arm, Adani Enterprises Ltd (AEL) on Thursday reported a 44 percent year-on-year (YoY) jump in net profit at Rs 674 crore for the first quarter that ended June 30, 2023.

In the corresponding quarter last year, Adani Enterprises posted a net profit of Rs 469 crore, the company said in a regulatory filing.

The total revenue stood at Rs 25,438 crore during the period under review, down 38 percent against Rs 40,844 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA jumped 45 percent to Rs 2,524 crore in the first quarter of this fiscal over Rs 1,742 crore in the corresponding period in the previous fiscal.

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EBITDA margin stood at 9.9 percent in the reporting quarter as compared to 4.36 percent in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Other income during the quarter under review stood at Rs 371.5 crore compared to 222 crore in the corresponding period last year, Adani Enterprises said.

During the quarter, Adani Airports handled 21.3 million passengers (up by 27 percent year-on-year), 141.6 k air traffic movements (up by 12 percent year-on-year), and 2.5 lakh metric tonne cargo (up by 9 percent year-on-year).

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Gautam Adani, chairman of the Adani Group, said, the company's expertise in executing large-scale projects, like Kutch Copper, Navi Mumbai Airport, the certification of India’s first 5 MW onshore wind turbine, coupled with our world-class O&M capabilities are fundamental drivers that continue to accelerate our infrastructure journey.

Shares of Adani Enterprises ended at Rs 2,532.25, up by Rs 58.95, or 2.38 percent on the BSE.

(Edited by : Pradeep John)

First Published:Aug 3, 2023 3:17 PM IST