Adani Enterprises Q2 FY24: Adani Group’s airport division has reported the third-largest revenue within the group. As per the exchange filing, the airport division recorded revenue of Rs 1,905.47 crore in Q2 FY24. The revenue last year in the same quarter was Rs 1,292.26 crore.
Adani Airports Holdings generated a combined profit of Rs 200 crore, which was third largest after Adani New Industries Limited (ANIL).
The airport segment’s assets rose from Rs 33,724.09 crore in Q2FY23 to Rs 40,030.00 crore in Q2 FY4. Its liabilities went up by 24 per cent from Rs 8,614.35 crore for the quarter ended on September 30, 2023, to Rs 11,353.01 crore for the corresponding quarter this fiscal.
The airport arm has seven airports including Mumbai, Navi Mumbai (under construction), Ahmedabad, Thiruvanvanthapuram, Jaipur, Lucknow, Guwahati and Mangaluru. Giving an update on the completion of the Navi Mumbai airport, the company said that the progress is 39 per cent. The company plans to inaugurate the airport by 2024.
Currently, the seven operational airports serve 23 per cent of the total passenger base. Overall, the passenger movement went up by 29 per cent to 42.7 million from the seven airports. Mumbai airport carried the most number of passengers (25 million) followed by Ahmedabad.
Here are the highlights:
Mumbai Airport
• Became 1st in India & 3rd in world to receive Level 4 customer experience accreditation from Airports Council International (ACI)
• Received the prestigious 'Excellent Energy Efficient Unit' award from CII
• PESC Phase 2 expansion inaugurated and made operational
▪ Ahmedabad Airport
• Inauguration of New Arrival & Departure Immigration block in T2
• Received Gold award under the Facility Category in the Airport Sector
▪ Jaipur Airport
• Domestic Cargo Terminal operationalized at Jaipur Airport
• Received the prestigious silver award at SEEM awards in recognition of the airport’s unwavering commitment to energy efficiency & sustainability
▪ During Q2-24, Two international airlines and Nine international routes connected
Debt pile
Adani Airports Holdings Ltd had the highest debt among all its other businesses. Its total debt as of September 30, 2023, stood at Rs 16,752 crore, which was Rs 15,337 crore in Q1 FY24. Adani Enterprises’ total debt stood at Rs 42,102 crore against Rs 38,320 crore in the previous quarter.
On November 2, Adani Enterprises reported its consolidated net profit at Rs 227.82 crore, down 50.57 per cent from Rs 460.94 crore in Q2 FY23. The Gautam Adani-controlled company said decreasing coal prices was key factor hurting the company's profits.
The revenue from operations of the company came in at Rs 22.517 33 crore, falling 41.01 per cent from Rs 38,175.23 crore, the company said in an exchange filing.
Adani Enterprises said its EBIDTA increased by 39 per cent to Rs 2,979 crore on "account of strong incubating businesses".
At 10.30 am, shares of Adani Enterprises were trading at Rs 2,251.95, up by 1.67 per cent.