Adani Group's profit before tax increased 33 percent in June quarter, net profit up 50%

Adani Results: The group's net profit increased by more than 50 percent to Rs 10,279 crore in the first quarter (April-June) of the current financial year 2024-25. Adani Enterprises' EBITDA grew 46 percent to Rs 4,487 crore in April-June and net profit more than doubled to Rs 1,776 crore.

Aug 19, 2024 - 21:51
Adani Group's profit before tax increased 33 percent in June quarter, net profit up 50%
Adani Group's profit before tax increased 33 percent in June quarter, net profit up 50%

The Gautam Adani-led group has posted a 33 per cent rise in its profit before tax for the first quarter in April-June 2022 of the current financial year, supported by robust performance from the core business of infrastructure and emerging businesses spanning solar and wind manufacturing to company-run airports.

The group said in a statement, "Profit before tax (EBITDA) in the first quarter grew 32.87 percent year-on-year to Rs 22,570 crore. The EBITDA for the last 12 months (TTM) stood at Rs 79,180 crore, up 45.13% over the same period last year.”

The group's net profit grew over 50% to Rs 10,279 crore in the first quarter (April-June) of the current financial year 2024-25. "The consistently growing EBITDA is primarily due to the group's highly stable and strong 'Core Infrastructure' platform," the group said.

It comprises key infrastructure businesses of Adani Enterprises Ltd—Utilities: Adani Green Energy, Adani Power, Adani Energy Solutions, Adani Total Gas—and Transportation: Adani Ports & SEZ.

The company's consolidated EBITDA grew 46 percent to Rs 4,487 crore while net profit more than doubled to Rs 1,776 crore in the April-June quarter. EBITDA grew 30 percent to Rs 2,866 crore in the June quarter and net profit nearly doubled to Rs 629 crore for the renewable energy company. Adani Power's profit grew by 54% to Rs 3,490 crore in the June quarter while Adani Ports & SEZ grew its profit by 47% to Rs 3,107 crore.

The lowest increase in profit was seen in the city gas distribution company Adani Total Gas Ltd. The company earned a profit of Rs 172 crore, up 14.4%.

Emerging infrastructure companies (Adani New Industries Ltd, airports, and roads) under Adani Enterprises Ltd (AEL) led the overall growth. In this, EBITDA grew 70% to Rs 2,991 crore. Adani said the net debt to EBITDA ratio has also come down to a multi-year low.

Muskan Kumawat Journalist & Content Writer