Adani Enterprises Consolidated Total Income rose 33% to Rs 13,602 crore for Q2FY14

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Editor’s Synopsis

  • Consolidated Total Income for Q2FY14 increase by 33% at Rs 13,602 crore vs Rs 10,265 crore in Q2FY13
  • Consolidated EBIDTA for Q2FY14 increase by 17% to Rs 1,896 crore vs. Rs 1,617 crore in Q2FY13
  • Consolidated Net loss for Q2FY14 at Rs 417 crore
  • Consolidated Total Income for H1FY14 increase by 18% at Rs 25,149 crore vs Rs 21,300 crore in H1FY13
  • Consolidated EBIDTA for H1FY14 increase by 33% at Rs 3,833 crore vs Rs 2,883 crore in H1FY13
  • Consolidated Net loss for H1FY14 at Rs 695 crore


  Achieved Robust Volumes in Q2:

  • 11.0 MMT in Coal Trading
  • 28.1 MMT of Port cargo handled
  • 9.1 bn Power units sold 

 

  • Mundra Port continues to be No.1 Commercial Port of India handling 24.62 MMT of cargo during Q2FY14
  • Mundra Port sets record in India’s coal cargo handling history by discharging 151,299 MT of steam coal from MV Cape Fushen in 24 hours
  • With additional signing of FSA for Tiroda Power Project, Adani Power has total FSA for Mundra and Tiroda Power Projects of 11.8 MMT

Ahmedabad, October 31, 2013: Adani Enterprises Ltd, the flagship company of the Adani Group, today announced its results for the second quarter ended September 30, 2013.

 

Financial Highlights:

 

The consolidated Total Income for quarter increased by 33% to Rs 13,602 crore against Rs 10,265 crore in the same period last year. The consolidated EBIDTA increased by 17% to Rs 1,896 crore against Rs 1,617 crore in the same period last year. The consolidated net loss stood at Rs 417 crore.

 

The consolidated Total Income for half year increased by 18% to Rs 25,149 crore against Rs 21,300 crore in the same period last year. The consolidated EBIDTA increased by 33% to Rs 3,833 crore against Rs 2,883 crore in the same period last year. The consolidated net loss stood at Rs 695 crore.

 

Our port and coal trading businesses continue to grow on a steady basis, whereas our performance was affected by currency volatility, non-availability of domestic coal and delay in compensatory tariff in our power business.

 

Commenting on the results, Mr Gautam Adani, Chairman Adani Group, said, “Adani Enterprises continues to focus on its core businesses of Ports & Logistics, Coal Trading & Mining and Power Generation & Transmission. Mundra Port remains no. 1 Port of the country and an effective catalyst for all our integrated businesses. Our overall financial results reflect the continued stress of our power business and we anticipate the situation to improve in the ensuing quarters. We remain committed to resolving the long pending sector issues affecting our power business and ensure stability in earnings and sustainable value for all our stakeholders.”

 

Business Highlights:

 

1. Coal Trading & Mining


In its MDO (Mine Development & Operations) business, the company is in the process of scaling up its operations and extracted about  4.4 lac MT of coal in Q2FY14 from Parsa Kente block in Chhattisgarh.


The Environmental Impact Statement (EIS) and other approvals for the Carmichael Coal Mine and Rail Project in Australia are progressing well and expected as per the schedule.

 

2. Ports


Mundra Ports Handled highest Coal volume 17.87 MMT in H1FY14. It also handled highest ever containers volume (1.04 Million TEUs) in H1FY14 (previous best 0.88 Million TEUs in H2FY13).


The port at Dahej continues to perform very well, handling a cargo of 2.48 MMT in Q2FY14, a rise of 112% as compared to 1.17 MMT in corresponding quarter previous year. For H1FY14 cargo handled was 4.70 MMT with growth of 59% compared to corresponding period previous year.


The port at Hazira handled a cargo of 0.98 MMT in Q2FY14 and 1.84 MMT in H1FY14, continuing its journey to be a large diversified port, adding to the overall Adani Ports synergy.


Project execution of ports at Goa, Vizag is near completion and Tuna Tekra at Kandla is as per the schedule.


3. Power Generation & Transmission

 

Maharashtra Electricity Regulatory Commission (MERC) ordered to provide an interim relief to Adani power by increasing the prevailing tariff by Rs 0.57/kwh.

 

The company expects to achieve thermal power generation capacity of 9240 MW by FY14.

© 2015 Adani Group