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Adani Enterprises Q3 Results: The company earns Rs. 820 crores in profit

Despite the current Adani Group controversies, the Adani Groupu2019s flagship companyu2019s income from operations increased 42% to 26,612 crores in the third quarter of FY23, compared to 18,758 crores in the same period of the previous fiscal.

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Adani Enterprises Q3 Results: The company earns Rs. 820 crores in profit

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  1. ADANI ENTERPRISES Q3 RESULTS: THE COMPANY EARNS RS. 820 CRORES IN PROFIT

  2. Adani Enterprises Ltd. recorded a consolidated net profit (attributable to the company’s owners) of 820 crores for the third quarter of the current fiscal on February 14, 2023, compared to a net loss of 12 crores in the previous quarter. It made 460 crores in profit in the prior quarter of September 2022. Adani Enterprises shares recovered from lows to trade more than 3% higher on the BSE (Bombay Stock Exchange) in afternoon trades following the results announcement. • Despite the current Adani Group controversies, the Adani Group’s flagship company’s income from operations increased 42% to 26,612 crores in the third quarter of FY23, compared to 18,758 crores in the same period of the previous fiscal. Its overall costs increased to 26,171 crores, up from 19,047.7 crores year on year (YoY).

  3. EBITDA more than quadrupled year on year to Rs. 1,968 crores The company’s consolidated operational profit, measured as earnings before interest, taxes, depreciation, and amortisation (EBITDA), quadrupled yearly to Rs. 1,968 crores. The present market instability is only transitory, and as a traditional incubator with a long-term value creation strategy, Adani Enterprise Limited (AEL) will continue to work with the dual goals of modest leverage and strategic possibilities to develop and flourish. Income from the integrated resource management business increased 38% yearly to Rs. 17,595 crores.

  4. The Adani Group’s core competency is its ability to execute large-scale infrastructure projects Despite all of the Adani Group controversies, the primary strength resides in mega-scale infrastructure project execution capabilities, organisational growth, and superior O&M management skills comparable to the finest in the world. AEL’s extraordinary resilience and aptitude to grow highly successful core sector businesses demonstrate how the different capabilities of the Adani portfolio of companies delivers long-term value for all their stakeholders. The Adani Group’s success is attributable to its excellent governance, stringent regulatory compliance, consistent performance, and robust cash flow creation. The current market instability is just transitory and a traditional incubator with a long-term wealth development objective. AEL will continue to pursue the dual goals of moderate leverage and strategic possibilities for expansion and growth.

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