Adani Enterprises net profit rises by 551 percent in Q3

Ahmedabad, Jan 30
India-based integrated infrastructure player Adani Enterprises Ltd. Friday said its consolidated net profit rose by 551 percent to Rs.444 crore for the third quarter (Q3) of the current fiscal against Rs.68 crore reported in Q3 of the last fiscal.

The consolidated total income for the company in the time period under review increased by 30 percent to Rs.17,850 crore against Rs.13,739 crore in the corresponding period last year.

The consolidated EBITDA (earnings before interest, taxes, depreciation, and amortization) also increased by 57 percent to Rs.3,491 crore in Q3 in the current fiscal against Rs.2,227 crore in the corresponding time frame last year.

It recently signed a Memorandum of Understanding (MoU) with SunEdison Inc. to jointly invest $4 billion in setting up India's largest integrated solar photovoltaic manufacturing facility in Mundra, Gujarat, and also signed another MoU with Australian energy major Woodside Energy for exploring business opportunities across a broad spectrum in the oil and gas sector in India.

While the consolidated EBIDTA increased by 58 percent to Rs.9,845 crore against Rs.6,227 crore in the corresponding period during the last fiscal year, the consolidated total income in the calendar year 2014 increased by 25 percent to Rs.48,441 crore against Rs.38,884 crore in the corresponding period last year.

The consolidated net profit for the year 2014 stood at Rs.1,211 crore compared with the net loss of Rs.627 crore it suffered in 2013.