Adani Enterprises' Q1 consolidated net at Rs 557 cr

Adani group’s flagship company, Adani Enterprises Ltd, has registered a standalone net profit of Rs 1 crore for the first quarter ended June 30, 2014. The company had posted a net loss of Rs 136 crore in the same period previous year.

Standalone net sales increased to Rs 4,054 crore during the quarter from Rs 2,776 crore in the corresponding quarter previous year.

On a consolidated basis, company has posted a net profit of Rs 557 crore on net sales of Rs 16,494 crore for the quarter under review. It had registered a net loss of Rs 278 crore in the same quarter previous year with net sales of Rs 11,525 crore.

Ameet Desai, Group Chief Financial Officer, said: “Our coal trading, MDO, ports and logistics businesses continue to grow surpassing the previous records of revenue and profits. Power generation business has shown growth due to new capacities coming into operation coupled with enhanced PLF and improved operations.”

Commenting on the results, Gautam Adani, Chairman, Adani Group, said in a statement: “Our improved performance has set the direction for 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.”