Adani Enterprises reports 36 pct jump in income to Rs 13,237 crore in Q4 FY19

Last Updated: Wed, May 29, 2019 19:05 hrs
Gautam Adani (PTI image)

Mumbai: Adani Enterprises said on Wednesday that its consolidated income from operations during for the quarter ending March totalled Rs 13,237 crore, up 36 per cent from Rs 9,767 crore in the corresponding period of the previous year.

The earnings before interest, tax, depreciation and amortisation (EBITDA) for decreased 5 per cent to Rs 943 crore from Rs 994 crore in Q4 FY18. The profit after tax attributable to owners for Q4 FY19 was Rs 283 crore compared to Rs 188 crore in the same quarter of previous year.

"Adani Enterprises continues to focus on incubating businesses of national importance, building second generation infrastructure and utilities," said Chairman of Adani Group Gautam Adani.

"With a stable government and emphasing policy initiatives paves way for growth opportunities across sectors. Our endeavour is to establish businesses of the future, creating better value for the stakeholders in long term," he said in a statement.

In coal mine development and operations, the company supplied washed coal of 12.13 million tonnes to Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL) in FY 19 as compared to 7.04 million tonnes in FY 18, showing an increase of 72 per cent. The Parsa Kente coal mines are located in Chhattisgarh's dense Hasdeo Arand forests.

Adani Enterprises also signed a coal mining agreement with Andhra Pradesh Mineral Development Corporation for Suliyari Coal Block on March 8.

In solar manufacturing, the company has established India's largest solar cell and module manufacturing unit in Mundra Special Economic Zone. The plant has an installed capacity of 1.2 gigawatt fully-integrated cell and module manufacturing unit and got operational in FY 18. Q4 FY19 volumes increased by 29 per cent to 260 megawatt modules versus 202 megawatt modules in Q4 FY18.

In food business, the company maintained its leadership position with its Fortune brand and continues to lead the refined edible oil market with more than 20 per cent market share.

Adani Enterprises is the flagship company of Adani Group, one of India's largest business conglomerates.