Adani Enterprises FY21 profit rises 26% to Rs 1,182 cr; revenue down 20%

Adani Enterprises Ltd (AEL), which is a part of the Adani Group, has announced a 26 per cent rise in net profit at Rs 1,182 crore in the financial year 2020-21. The company's January-March profit stood at Rs 234 crore as against Rs 61.2 crore profit during the same period last year.

"The financial year 2020-21 was impacted by one time exceptional loss of Rs 259 crore and there was an exceptional gain of Rs 199 crore in FY20," the company stated. The consolidated revenue for the full financial year declined 20 per cent to Rs 40,291 crore as against Rs 44,086 crore in the past financial year.

The EBIDTA (earnings before interest, taxes, depreciation, and amortisation) for the quarter ending March increased 65 per cent on a YoY basis at Rs 1,068 crore, thanks to better margins in the IRM segment and increased sales in the domestic content requirement segment in the solar manufacturing business.

The EBIDTA for the full financial year on a consolidated basis rose 10 per cent at Rs 3,259 crore YoY, thanks to better performance in the solar manufacturing segment due to increased sales in the domestic content requirement segment.

"Despite the challenges our nation and our people have faced over the past year, we have remained true to the philosophy of atmanirbharta in every business that AEL incubates. The exceptional success we have been able to achieve in expanding into roads, water, airports and data centres augur well for the Adani Group and our shareholders. In addition, our exciting businesses related to solar manufacturing, mining and airports are excellent examples of the Adani Group's ability to execute and deliver on the commitments we make to the markets," Gautam Adani, Chairman Adani Group said.

Segment-wise, Adani Wilmar's revenue for the fourth quarter rose 47 per cent to Rs 10,696 crore. Adani Enterprises stock closed Rs 1 or 0.079 per cent up at Rs 1,263.50 on the National Stock Exchange (NSE).

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