Ahmedabad (Gujarat) [India], Nov 12: Adani Enterprises said on Tuesday its consolidated earnings before interest, tax, depreciation and amortisation (EBIDTA) for the first half of current fiscal year increased by 39 per cent to Rs 1,436 crore versus Rs 1,036 crore in H1 FY19.
The consolidated total income for the H1 FY20 increased by 14 per cent to Rs 19,313 crore compared to Rs 16,930 crore in the corresponding period of previous fiscal. The profit after tax attributable to owners rose 91 per cent to Rs 651 crore versus Rs 341 crore. For the second quarter, total income was Rs 8,627 crore compared to Rs 9,265 crore for the corresponding period of previous year.
The EBIDTA for the quarter stood at Rs 540 crore versus Rs 552 crore in Q2 FY 19.
Profit after tax attributable to owners for Q2 FY 20 was Rs 50 crore compared to Rs 172 crore in Q2 FY 19. This includes exceptional loss due to write-off of exploration block of Rs 130 crore in one of the group subsidiaries.
“Adani Enterprises continues to incubate new-age infrastructure which will provide world-class services to the users. We are very excited to build the next set of businesses like airport management, data centre parks, roads, water infrastructure and defence and aerospace,” said Chairman Gautam Adani.
“As always, we are committed to addressing the challenges in infrastructure building, contributing to economic growth of the nation and delivering higher shareholders value,” he said in a statement.
In mine development and operations business at Parsa Kente coal mines in Chattisgarh, the company supplied washed coal of 2.32 million tonnes to Rajasthan Rajya Vidyut Utpadan Nigam in Q2 FY 20 as compared to 3.09 million tonnes in Q2 FY 19.
In solar manufacturing, the company established India’s largest solar cell and module manufacturing unit in Mundra Special Economic Zone. The plant has an installed capacity of 1.2 gigawatt fully integrated cell and module manufacturing unit. Q2 FY 20 volumes increased by 79 per cent to 278 megawatt modules versus 156 megawatt modules in Q2 FY 19.
In food business, the company 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.