Adani Enterprises consolidated income from operations increased by 15% and EBITDA increased by 49% in Q3 FY18

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Editor’s Synopsis

Operational Highlights Q3 FY 18:

  • Coal Trading volumes lower by 2% to 16.4 Million Metric Tons (“MMT”) vs 16.7 MMT in Q3 FY 17
  • Coal MDO volumes lower by 9% to 1.75 MMT vs 1.92 MMT in Q3 FY 17
  • Renewable Power Generation was 364 Million Units of KWh
  • City Gas Distribution volumes increased by 22% to 122 Million Metric Standard Cubic Meters (“MMSCM”) vs 100 MMSCM in Q3 FY 17

 

Financial Highlights (Consolidated):

  • Consolidated Income from operations at Rs. 9,938 crores in Q3 FY 18 vs Rs 8,606 crores in Q3 FY 17
  • Consolidated EBIDTA at Rs. 1,048 crores in Q3 FY 18 vs Rs 705 crores in Q3 FY 17
  • Consolidated PAT at Rs. 351 crores in Q3 FY 18 vs Rs 340 crores in Q3 FY 17

Ahmedabad, January 18, 2018 : Adani Enterprises Ltd, (AEL) part of the Adani Group, today announced its results for the third quarter and nine months ended December 31, 2017.


Financial Highlights (Consolidated):
The Consolidated Income from Operations for the quarter is Rs 9,938 crores vs Rs. 8,606 crores for the corresponding period in the previous year. The EBIDTA for the quarter is Rs 1,048 crores vs Rs. 705 crores in Q3 FY 17. The PAT attributable to owners for Q3 FY 18 is Rs 351 crores vs Rs. 340 crores in Q3 FY 17. The company has maintained its financial performance on comparable basis.

The Consolidated Income from Operations for nine months is Rs 27,800 crores vs Rs 25,119 crores for the corresponding period in the previous year. The EBIDTA for 9M FY 18 is Rs 2,548 crores vs Rs. 2,092 crores in 9M FY 17. The consolidated PAT attributable to the owners for 9M FY 18 is Rs 569 crores vs Rs. 767 crores in 9M FY 17.


“Adani Enterprises focused on incubating diverse nation-critical businesses to address the country’s growing appetite for energy, food and infrastructure. We remain committed to our investment plans in resources, energy, food & logistics which would contribute extensively to India’s overall economic progress.” said Mr. Gautam Adani, Chairman Adani Group.


“Our quarterly performance was satisfactory as we maintained steady earnings growth trajectory. Government’s focus on increasing consumption coupled with improving utilization and cost optimization would enhance the company’s performance leading to value creation for all stakeholders” said Mr. Rajiv Nayar, Group CFO Adani Group.


Business Highlights:


1. Coal Mine Development and Operations (“MDO”)
In MDO business at Parsa Kente coal mines in Chattisgarh, the Company has supplied washed coal of 1.75 MMT to RRVUNL in Q3 FY 18 as compared to 1.92 MMT in Q3 FY 17. The Company along with its 100% subsidiary Gare Pelma III Collieries Limited has entered into Coal Mine Services Agreement with Chhattisgarh State Power Generation Company Limited (CSPGCL) on 16.11.2017 for development, operation and mining of coal from Gare Pelma Sector III coal block.


2. Renewable Energy
The company has operationalized renewable projects of 1648 MW with a further pipeline of 550 MW of projects under various stages of implementation across the country. The Company has generated 364 MU Kwh in Q3 FY 18 as compared to 145 MU Kwh in Q3 FY 17 on account of operationalization of projects.

3. City Gas Distribution
The company provides piped natural gas to households, industrial and commercial consumers and compressed natural gas for automobiles in 4 cities - Ahmedabad, Vadodara, Faridabad, Khurja through its 100% subsidiary and in 3 cities – Chandigarh, Allahabad and Daman through 50:50 Joint Venture with Indian Oil Corporation. The company envisages future growth through Joint Venture which has been awarded the city gas project in cities - Ernakulum, Panipat, Udham Singh Nagar, Dharwad, South Goa and Bulandshahr. The projects are at various stages of implementation in these cities.


4. Agro
In edible oil business, the company has maintained its leadership position with its “Fortune” brand and continues to lead the refined edible oil market with 21% market share.
In agro storage business, the company has operationalized storage facility with capacity of 25K MT at Kotkapura. Project implementation is going as per schedule for the recently won 6 projects from Punjab Govt. with a capacity of 3 lacs MT. Commissioning of all the projects is expected in Mar 19.

© 2018 Adani Group