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Adani Enterprises on Wednesday reported a 10.39 percent fall in its consolidated profit to Rs 343.17 crore for the third quarter ended December 2020. The Gautam Adani-led company had clocked a consolidated profit of Rs 382.98 crore in the corresponding quarter a year ago, it said in a regulatory filing. Its consolidated total income for the latest quarter rose to Rs 11,787.82 crore from Rs 11,075.32 crore in the year-ago period. The total expenses increased to Rs 11,303.97 crore in the December quarter compared to Rs 10,635.16 crore in the same period previous fiscal.
“Consolidated Total Income for the quarter increased by 6 per cent at Rs 11,788 crore owing to increased sales in Solar Manufacturing business. The EBIDTA for the quarter increased by 6 per cent to Rs 939 crore owing to increased sales in the Domestic Content Requirement segment in the Solar Manufacturing business, leading to better margin,” the company said in a statement.
The profit after tax (PAT) attributable to owners for Q3 FY21 was Rs 297 crore as against Rs 426 crore a year ago, owing to an exceptional write-off of exploration block on termination by the Ministry of Petroleum and Natural Gas. “Adani Enterprises continued its journey towards laying the foundation for several new businesses that the Group is venturing into. These include Airports, Data Centers, Roads, and Water.”
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