adani enterprise stock news : Q1 net profit jumps 43%

the hindu businessline-Adani Enterprises Ltd (AEL), the flagship company of Adani Group, on Tuesday reported a 43 per cent rise in its consolidated profit after tax (PAT) in the first quarter of 2015-16.

While announcing the results, the company clarified that the current quarter figures were not comparable with the previous/corresponding quarter, consequent to demerger of ports, power and transmission businesses with effect from April 1, 2015.

Consolidated income from operations during the quarter under review was Rs 11,275 crore vs Rs 12,429 crore in Q1FY15. The 9 per cent decline in sales was due to reduction in sales of bunkering business. Consolidated PAT grew 43 per cent to Rs 380 crore vs Rs 265 crore in Q1FY15.

Gautam Adani, Chairman, Adani Group, said that post-demerger, Adani Enterprises continues to focus on renewable energy, coal trading, mine development and operations (MDOs), agro and city gas distribution (CGD). “This focused approach will drive the next level of value creation and would accelerate business growth. We have embarked upon renewable energy space in line with the national objective.”

Ameet Desai, CFO, Adani Group, and Executive Director, Adani Enterprises, said, the company’s financial performance reflected the improved margins in our coal trading, MDOs and agro-business.

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