Adani Enterprises Ltd, the flagship company of the Adani Group, today announced its results for the first quarter ended June 30, 2014.
The consolidated Total Income for quarter increased by 43% to Rs 16,524 crore against Rs 11,547 crore in the same period last year. The consolidated EBIDTA increased by 62% to Rs 3,275 crore against Rs 2,017 crore in the same period last year. The consolidated PAT is Rs 557 crore.
Our coal trading, ports and power businesses continue its robust performance, however, recognition of compensatory tariff and higher volume of units sold in power business have resulted in improvement of overall performance.
Commenting on the results, Mr Gautam Adani, Chairman Adani Group, said, “Our improved performance has set the direction of growth as we see greater contribution from completed projects in our ports, power and mining verticals. With renewed efforts from new Government to address the concerns of fuel availability, rail infrastructure, transmission constraints, project approvals and debottlenecking of mining sector, we see greater growth opportunities in the sectors we operate.”
Mr. Ameet Desai, Group Chief Financial Officer, Adani Group, said, “Our Coal trading, MDO, Ports & Logistics businesses continue to grow surpassing previous records of revenue & profits. Power generation business has shown growth due to new capacities coming into operation coupled with enhanced PLF & improved operations. With continued focus on leveraging the benefits of our increasing scale and operational efficiencies, we expect further boost in our operating performance in future.”