Adani Enterprises net soars 72% to Rs 219 cr in Jan-Mar qtr

Adani Enterprises net soars 72% to Rs 219 cr in Jan-Mar qtr

25/05/2017 12:29

Adani Group flagship firm, Adani Enterprises Ltd (AEL) has reported a significant growth of 72.3 per cent in its consolidated net profit after taxes (PAT) at Rs 218.80 crore during the fourth quarter ended March 31, 2017, buoyed by higher contribution from coal trading.

“The consolidated PAT of the Ahmedabad-based firm stood at Rs 126.98 crore during the same period a year ago,” said Adani Enterprises Ltd in a filing to the Bombay Stock Exchange.

Further, the consolidated total income of the company rose by 47.8 per cent to Rs 12,360.22 crore during Q4 2016-17, as compared to Rs 8,365.14 crore during the same period last year.

On full-year basis, it has posted a net profit of Rs 925.25 crore for the quarter ended March 31, 2017, as compared to Rs 999.83 crore for the quarter ended March 31, 2016. The total income has increased from Rs 35,130.66 crore for the quarter ended March 31, 2016 to Rs 38,056.44 crore for the quarter ended March 31, 2017.

“The company has enhanced its financial performance on comparable basis on account of higher contribution from coal trading and MDO (Mine Developer and Operator) as well as commencement of generation from the renew-ables businesses,” it said in a statement. Commenting on the performance, Adani Group, Chairman, Gautam Adani said, “We at Adani Enterprises focus on sectors of national interest paying attention to renewable energy, mining and agro infrastructure business that is critical for the country. The government’s initiatives to enhance economic reforms in the country are highly encouraging.”

He said the company remains focused on executing its strategy and increasing momentum of businesses across the key sectors for long term, sustainable growth.

“We remain committed to play an enhanced role in Nation Building across various geographies,” he added.

The company’s board has recommended a dividend of Re 0.40 per equity share of face value of Re 1 each fully paid up for the Financial Year 2016-17, subject to its shareholders approval.

Meanwhile, shares of the company were trading at Rs 115.35 apiece, up 1.59 per cent, from previous close on BSE at 12:35 hours.

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