Adani Enterprises posts Q3 FY 2022 net loss at Rs 12 cr

AgenciesUpdated: Tuesday, February 15, 2022, 02:18 PM IST
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Adani Enterprises' total income increased to Rs 18,963 crore due to improved realization on the back of higher index prices in the IRM segment. / Representational Image | Twitter/@AdaniOnline

Adani Groups subsidiary Adani Enterprises on Monday reported an attributable consolidated net loss of Rs 12 crore due to losses in developing business. The company had posted a net profit of Rs 297 crore in Q3FY21.

The ccompany's total income increased to Rs 18,963 crore due to improved realisation on the back of higher index prices in the IRM segment.

During the same quarter in the previous fiscal, the total income was Rs 11,787 crore.

EBIDTA during the quarter under review increased by 4 per cent to Rs 977 crore.

"Our strategy of AEL remaining India's fastest multi-industry incubator remains unchanged," said Gautam Adani, the Chairman of Adani Group.

"With the IMF recently identifying India as becoming the fastest growing nation coming out of the pandemic, India has the tailwind required to be able to produce multiple companies, both in the digital space and in the physical space, at a pace faster than our country has ever been able to achieve," he added.

Notably, during the quarter, the company took over the operation of Jaipur, Guwahati, and Thiruvananthapuram airports.

"With this, our airports portfolio now includes seven operational airports and one greenfield airport," the company said in a regulatory filing.

Also, the firm formed new subsidiary Adani New Industries for business of green hydrogen generation and allied products.

(With inputs from IANS)

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