Adani Enterprises FY20 total income up 8 pc to Rs 44,086 crore

Ad Enterprises Ltd (AEL) on Wednesday reported 8 per cent increase in its consolidated total income for the financial year ended March 31 at Rs 44,086 crore compared to Rs 40,951 crore in the previous fiscal.In the mining services business, production volume at Parsa Kente coal mine in Chhattisgarh stood at 4.53 million tonnes in Q4 FY20 compared to 4.92 million tonnes in Q4 FY19.In roads business, the company signed three concession agreements with the National Highways Authority of India (NHAI) under hybrid annuity model for the construction of roads aggregating to 150-plus km with project completion status of 40 per cent in Bilaspur-Pathrapali project at Chhattisgarh.

Ad Enterprises Ltd (AEL) on Wednesday reported 8 per cent increase in its consolidated total income for the financial year ended March 31 at Rs 44,086 crore compared to Rs 40,951 crore in the previous fiscal.

The earnings before interest, taxes, depreciation and amortisation (EBIDTA) increased by 17 per cent to Rs 2,968 crore versus Rs 2,541 crore in FY19. The profit after tax attributable to owners rose 59 per cent to Rs 1,138 crore as against Rs 717 crore in FY19.

In the January to March quarter, consolidated total income moved up by two per cent to Rs 13,698 crore from Rs 13,473 crore while EBIDTA declined to Rs 647 crore versus Rs 943 crore in Q4 FY19. The profit after tax attributable to owners was Rs 61 crore compared to Rs 283 crore in Q4 FY19.

"Ad Enterprises has always strived towards nation-building through its business endeavours focussing on creating excellent infrastructure capabilities to accelerate the growth," said Chairman Ad Group Gautam Ad.

"While the COVID-19 pandemic has brought things to a halt, we at Ad will persistently support our fellow Indians through these testing times. We aim to emerge stronger once the situation normalises. The emphasis will be on continued incubation of future businesses and create value for our stakeholders in the long term," he said in a statement.

In the mining services business, production volume at Parsa Kente coal mine in Chhattisgarh stood at 4.53 million tonnes in Q4 FY20 compared to 4.92 million tonnes in Q4 FY19. Recently, the coal production started at Gare Pelma III mine in Chhattisgarh and the volume during the quarter was 0.45 million tonnes.

In solar manufacturing, the company has established India's largest solar cell and module manufacturing unit in Mundra special economic zone. The plant has an installed capacity of 1.2 GW fully integrated cell and module manufacturing unit. Q4 FY20 volume was at 193 MW modules as against 260 MW modules in Q4 FY19.

In the food business, the company has maintained its leadership position with its Fortune brand and continues to lead the refined edible oil market with more than 20 per cent market share.

In roads business, the company signed three concession agreements with the National Highways Authority of India (NHAI) under hybrid annuity model for the construction of roads aggregating to 150-plus km with project completion status of 40 per cent in Bilaspur-Pathrapali project at Chhattisgarh.

It has also received two letters of award from NHAI for construction of roads aggregating to 60-plus km in Andhra Pradesh and Madhya Pradesh.

In airport services, the company has won bids for six airports at Ahmedabad, Mangalore, Lucknow, Trivandrum, Jaipur and Guwahati out of which concession agreements have been signed for Ahmedabad, Mangalore and Lucknow.

( With inputs from ANI )