Adani Enterprises Q3 results: Net consolidated profit at Rs 820 crore

Adani Enterprises Q3 results: The net standalone profit in Q3FY23 was Rs 269.71 crore as compared to a loss of Rs 36.46 crore in Q3FY22

adani group
Photo: Bloomberg
BS Web Team New Delhi
2 min read Last Updated : Feb 14 2023 | 2:47 PM IST
The consolidated profit of Adani Enterprises in the quarter ending December (Q3FY23) was Rs 820 crore improving from a loss of Rs 11.63 crore a year ago. Revenue from operations for the flagship firm of the Adani Group increased 42 per cent to Rs 26,612.23 crore. 

The net standalone profit in Q3FY23 was Rs 269.71 crore as compared to a loss of Rs 36.46 crore in Q3FY22. It was, however, lower than the net profit of Rs 469.20 crore in Q2FY23. The revenue of the firm was Rs 12,142.15 crore. 

EBIDTA increased by 101 per cent to Rs 1,968 crore.

"Our success is due to our strong governance, strict regulatory compliance, sustained performance, and solid cashflow generation. The current market volatility is temporary; and as a classical incubator with a vision of long-term value creation, AEL will continue to work with the twin objectives of moderate leverage and looking at strategic opportunities to expand and grow," said Gautam Adani, chairman of the Adani Group, which is battling a US short-seller’s allegations of financial wrongdoing.

Hindenburg Research on January 24 accused the group of improper use of offshore tax havens and stock manipulation--allegations the business conglomerate has denied--that sparked about a $120 billion loss in the group's market value on concerns including about its ability to refinance debt.

One subscription. Two world-class reads.

Already subscribed? Log in

Subscribe to read the full story →
Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

Topics :Hindenburg ReportAdani EnterprisesAdani Enterprise LtdGautam AdaniAdani GroupEBITDABS Web ReportsQ3 resultsResults

Next Story