Indian Thought Latest News & Views
Mumbai: The net profit of Adani Enterprises Limited (AEL) for the third quarter (October-December) of the current financial year has more than doubled. The company gave this information on Thursday. The flagship company of the group led by billionaire Gautam Adani said that its strong performance was mainly contributed by renewable energy, airports and roads businesses.
The company said in the statement that its net profit in October-December, 2023 was Rs 1,888 crore, (Rs 1,888 crore) which was Rs 820 crore in the same period last year.
Adani Enterprises said pre-tax profit in green hydrogen business quadrupled to Rs 1,655 crore. Similarly, the pre-tax profit of the road business doubled to Rs 910 crore and the pre-tax profit of the airport business increased by 27 percent to Rs 1,774 crore.
In the quarter under review, the company’s pre-tax profit increased by 89 percent to Rs 3,717 crore.
Adani Group Chairman Gautam Adani said, “The third quarter has been strong for the company, with our two key new businesses (new energy and airports) gaining momentum.”
He said, “Our commitment to enhancing customer satisfaction and redefining the consumer experience at our airports remains steadfast. We are also pleased with our progress in setting up a fully integrated manufacturing chain for green hydrogen production. ”
In the third quarter of the current financial year, the company’s operating income increased by seven percent to Rs 28,827 crore.
