Ahmedabad, August 8, 2019.
Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for the first quarter ended June 30, 2019.
Financial Highlights (Consolidated):
The Consolidated Total Income for the quarter increased 39% to Rs 10,686 crores vs Rs. 7,664 crores for the corresponding period in the previous year. The EBIDTA for the quarter increased 85% to Rs 896 crores vs Rs. 484 crores in Q1 FY 19. The PAT attributable to owners for Q1 FY 20 increased 2.5 times to Rs 601 crores vs Rs. 169 crores in Q1 FY 19. This includes one-time income of Rs 328 crores recognized in our MDO business.
“Adani Enterprises continues to make significant strides in lining up the next set of businesses that included airport management, data center parks, roads, water infrastructure and defense & aerospace. Its business portfolio has never been such stronger and each of these businesses led by focus on growth markets with offerings in the right product segments and compelling value proposition.” said Mr. Gautam Adani, Chairman Adani Group.
1. Mine Development and Operations (“MDO”)
In MDO business at Parsa Kente coal mines in Chattisgarh, the Company has supplied washed coal of 2.39 MMT to RRVUNL in Q1 FY 20 as compared to 2.15 MMT in Q1 FY 19, showing an increase of 11%.
2. Solar Manufacturing
The company has established India’s Largest Solar Cell and module manufacturing unit in Mundra SEZ. The plant has an installed capacity of 1.2 GW fully integrated cell and module manufacturing unit. Q1 FY 20 volumes increased by 191% to 236 MW modules vs 81 MW modules in Q1 FY 19.
In food business, the company has maintained its leadership position with its “Fortune” brand and continues to lead the refined edible oil market with more than 20% market share.