Adani Enterprises, the flagship firm of Adani Group on Monday said consolidated net profit plunged by 44 per cent to Rs 196 crore on a comparable basis for the quarter ended December 31, on lower income. The firm had clocked a net profit of Rs 349 crore in the October-December 2014 period, it said. "The consolidated income from operations for quarter is Rs 10,408 crore as against Rs 12,564 crore in the corresponding period last year. The consolidated EBIDTA is Rs 654 crore as against Rs 802 crore in the corresponding period last year," the Ahmedabad-based firm said in a statement.
The company said the "quarter and nine months figures are not comparable with the corresponding period, consequent to demerger of Ports, Power and Transmission businesses effective from 1st April 2015."
As per the company's BSE filing, the consolidated profit stood at Rs 195.79 crore during the quarter ended December 31, as against Rs 443.85 crore in the year-ago period. Total consolidated income of the company stood at Rs 10,408.48 crore in the October-December quarter this fiscal from Rs 17,849.84 crore in the same quarter of 2014-15.
Gautam Adani Chairman Adani Group said: "The recent developments in the company's business mix will go a long way in addressing energy sufficiency of the country and strengthen overall socio-economic status. With our innovative business models and services, we remain committed to build industry leading businesses for long term sustainable growth."