Adani Enterprises Ltd (AEL), the flagship company of the $ 9.4 billion Adani Group, today registered a 74.1% dip in its consolidated net profit after taxes for the quarter ended March 31, 2015 to Rs 737.17 crore, down from Rs 2847.82 crore in the corresponding period last fiscal. Total income for the quarter has increased marginally from Rs 16,430.59 crore for the quarter ended March 31, 2014 to Rs 16,507.65 crore for the quarter ended March 31, 2015, up 0.47%.
For the full year 2014-15, it has posted a net profit after taxes of Rs 1,948.05 crore as compared to Rs 2,220.77 crore for the year ended March 31, 2014, down 12% . Total Income has increased by 16% from Rs 56225.86 crore in FY14 to Rs 65519.85 crore in FY15.
On a standalone basis, the company has posted a 28% dip in net profit for the quarter under review to Rs 72.8 crore from Rs 102.21 crore in the same period in the year-before period. Total income has increased from Rs 3056.84 crore in Q4FY14 to Rs 3597.23 crore in Q4FY15, a jump of 17%.
For the full year, the company posted a net profit of Rs 406.85 crore on a standalone basis in FY15, as compared to net loss of Rs 178.69 crore for the year ended March 31, 2014. Total income has increased from Rs 12993.46 crore for the year ended March 31, 2014 to Rs 16212.50 crore in FY15, up 24%.
The company said in a statement that its coal business, ports and power businesses continue to scale up steadily. Gautam Adani, chairman Adani Group, said, "As a group celebrating its Silver Jubilee year, we feel privileged to have built global scale integrated infrastructure organisation in relatively short time."
Ameet Desai, CFO Adani Group and executive director, Adani Enterprises, said, "Our results reflect growth & all-round performance across various verticals,coal business, ports & logistics and power & transmission businesses. We remain optimistic to build these businesses to generate higher returns for all our stakeholders."
The company embarked on coal mining business at its Indonesian mine and extracted 5 million tonnes (mt) of coal in FY15. It said in a statement, "At Carmichael Coal Mine in Australia, the company has commenced award of key contracts for mining operations. The company has issued letter of award to Liebherr and Komatsu for supplying excavators and trucks respectively for mining operations in Australia."
As on the ports front, Adani Ports handled 2.72 million TEUs of containers in FY15 as against 2.39 million TEUs in the corresponding full year FY14. This is a 14% growth as compared to growth of 7% for container volume at all other ports, Adani claimed. With the commissioning of the Tuna Tekra bulk terminal at Kandla, an additional 10 mt cargo capacity has been added.
As for power generation and transmission, Adani Power acquired Udupi Power project, with this, Adani Power has achieved total power generation capacity of 10,440 MW.
Stocks of Adani Enterprises ended day's trade today on the Bombay Stock Exchange (BSE) up 6.97% at Rs 720.55 per share.
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