Adani Enterprises shares decline as net profit falls in Q4 FY24; check details

At 10:27 am, the stock was trading at ₹3,021, down 0.60%, on the National Stock Exchange (NSE). On the BSE, the scrip was 0.44% lower at ₹3023.

The firm's EBITDA (earnings before interest, taxes, depreciation, and amortisation) fell 8% to ₹3,646 crore in the January-March quarter of the fiscal year 2023-24.

For the full fiscal 2023-24 (FY24), net profit jumped 31% to ₹3,240.78 crore. This is despite revenue from operations falling to ₹96,420.98 crore from ₹1,27,539.50 crore in 2022-23.

"Adani Enterprises has once again validated its position not only as the premier business incubator in India but also as a global leader in infrastructure development," said Gautam Adani, Chairman of the Adani Group.

"AEL's resilient growth model of incubation confirms the operational and organisational excellence. This is supported by high ratings and fully funded growth. Our commitment to excellence in project management and operations continues to set global benchmarks, ensuring sustainable long-term value creation for our stakeholders. We remain dedicated to corporate governance, meticulous compliance, robust performance and effective capital flow management," he added.

Giving an operational update, the firm said ingot and wafer units, which are used to manufacture solar modules that trap sunlight to produce electricity, are operational, while it has got orders for the manufacture of 254 sets of wind turbines.

Its joint venture with EdgeConneX has one operational data centre in Chennai, and the construction of Noida and Hyderabad facilities is 81%-88% complete.

It plans to build nine data centres with a total capacity of 1 gigawatt by 2030 to provide infrastructure for the booming demand for digital services.

Also, Adani started a copper unit in Mundra in March to foray into the metals business.