Adani Enterprises Q2 results: Profit tanks 51% to Rs 228 crore; sales down 41%

Adani Enterprises Ltd, the Adani group's flagship firm, on Thursday said its consolidated net profit attributable to owners, fell 50.57 per cent year-on-year (YoY) to Rs 227.82 crore compared with R 460.94 crore in the corresponding quarter last year. The consolidated revenue from operations fell 41 per cent YoY to Rs 22,517.33 crore from Rs 38,175.23 crore in the same quarter last year.

Consolidated Ebitda for the quarter rose 39 per cent to Rs 2,979 crore on account of strong incubating businesses, the Adani firm said in a BSE filing. Cash accruals climbed 26 per cent to Rs 1,242 crore, it said.

Chairman at Adani Group, Gautam Adani, said: "Adani Enterprises covers sectors that span energy, utility, transport, D2C, and primary industries. With many ventures now market-ready and thriving, our H1 FY23-24 results have been boosted by the core infra incubating businesses, thereby being a strong testament to our incubating ventures.”

Also read: Adani Enterprises, Adani Power Q2 results today; how Adani Green Energy, Adani Total Gas, others performed

Adani Enterprises said it has made significant progress in its strong incubation pipeline during the first half of the FY24. The company's latest results showcase the emergence of key incubating businesses, including green hydrogen integrated manufacturing ecosystem, airports and roads, which collectively contributed 48 per centof the overall Ebitda, the company said in a BSE filing.

Also read: Coforge shares shed multibagger tag in two years; what should investors do?