Adani Enterprises Q2 Results FY2023, PAT at Rs. 432.30 crores

On 3rd November 2022, Adani Enterprises announced its quarterly results for the second quarter of FY2023.
 

Q2FY23 Performance updates:

- Total Income increased by 183% to Rs. 38,441 crores on account of strong performance by IRM and Airport business 
- EBIDTA increased by 69% to 2,136 crores on account of strong performance by IRM and Airport business 
- Attributable PAT increased by 117% to Rs. 461 crores in line with EBIDTA
- PAT at Rs. 432.30 crores

Business Highlights:

- During the quarter, Adani Airports handled 16.3 Million passengers at 90% of a pre-covid level, 126.9 k Air Traffic Movements, and 2.0 Lakhs MT Cargo 
- Adani Road Transport Ltd received provisional COD for the 2nd HAM Road project at Suryapet Khammam, secured financial closure for Ganga Expressway Project for Rs.10,238 cr 
- AdaniConnex Pvt Ltd is the first data center facility of 17 MW which is operational in Chennai 
- 22% of the project activity is completed for the Noida Data Center project
- Adani New Industries Supply Chain Ecosystem established a new 2.0 GW solar module line and currently, the existing 1.5 GW capacity plant is being upgraded to 2.0 GW with TopCon Cell technology.  India’s first and largest Wind Turbine prototype of 5.2 MW was installed at Mundra; testing and certification are in progress. Volume stood at 206 MW.
- Mining Services production stood at 5.4 MMT. The operational Peak capacity of coal mines stood at 50+ MMT including iron ore mine

Commenting on the results,  Mr. Gautam Adani, Chairman of the Adani Group said: “Adani Enterprises has yet again validated its standing as India’s most successful new business incubator as it continues to build on exciting ideas strategically aligned with the diverse strengths of the Adani portfolio of companies. AEL's accelerating pace of business incubation and its remarkably consistent success demonstrates the robustness of the Adani Group's fundamental approach to value creation as we transform sector after sector through digitisation, innovation in technology and a greater emphasis on equitable energy transition. We continue to believe ever firmly in the India growth story and remain committed to our core philosophy of nation-building through the development of advanced, efficient and world-class infrastructure that delivers increasing shareholder value.”