Millennium Post

Adani flagship’s Q3 profit up 6-fold

Adani Enterprises Ltd (AEL) on Friday reported over six-fold increase in its consolidated net profit at Rs 443.85 crore for the quarter ended December 31, 2014 on the back of higher contribution from coal, ports and power businesses.

The firm’s net profit in the same quarter of the last fiscal was Rs 68.20 crore, Adani Enterprises said in a filing to BSE. “Overall performance has improved due to higher contribution from coal, ports and logistics and power businesses,” Ameet Desai, CFO of Adani Group, said in a statement. Total income from operations went up to Rs 17,849.84 crore from Rs 13,739.11 crore in the corresponding period of FY 2014. Coal trading volume grew by 61.9 per cent to 17 million tonnes (MT) in the period under review from 10.5 MT in the corresponding quarter of previous fiscal. Ports cargo volume grew by 34.4 per cent to 39 MT in the third quarter compared to 29 MT in same period of the previous fiscal.
Power sales volume rose to 14.7 billion units in October-December quarter in comparison to 11.2 BUs in the corresponding period of previous fiscal. Its port, power and coal businesses continue to grow steadily and it is actively investing in changing Indian scenario.
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