Jobaaj Stories
Adani Enterprises has impressed investors as the company more than doubled its profits on a quarterly basis and more than tripled its net earnings on an annual basis for FY23.
For the quarter that ended in March 2023, the company’s revenues stood at Rs 31,346 crores, up 26% YoY as the IRM and Airports business witnessed robust growth during the year. Quarterly EBITDA jumped 157% to Rs 3,957 crores as it witnessed better operating performance across businesses. Profit for the March quarter attributable to the company was Rs 722 crores, up 137% YoY.
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For the full year that ended in March 2023, revenues grew 97% to Rs 136,978 crores. The Integrated Resource Management segment of the company remained the highest contributing segment of the company as its revenues more than doubled to Rs 98,188 crores. However, the company’s Mining segment saw the highest growth as its revenues almost quadrupled to Rs 8,045 crores.
The Airports and Roads segments also reported robust growth as revenues from these segments almost tripled during the year. Total expenses, on the other hand, surged 94% YoY to Rs 134,556 crores as operating and miscellaneous expenses more than doubled during the year.
EBITDA grew 112% during the year to Rs 10,025 crores as the company’s operating margin improved 109 bps to 6.44%. Profit attributable to the company was Rs 2,209 crores, up over 300% YoY against Rs 475 crores reported in the corresponding quarter last year.
At the time of reporting, the stock of Adani Enterprises was trading around Rs 1,919 per share.
- Aman Agarwal
