Adani Enterprises Reports Big Profits and Growth in April-June 2024
Adani Enterprises Ltd, the flagship company of the Adani Group, announced its results for the April-June quarter of 2024. The company reported a total income of Rs 26,067 crore, a 13% increase from Rs 23,016 crore in the same period of 2023. The net profit saw a 116% jump to Rs 1,458 crore, compared to Rs 675 crore in the previous year.
The company’s core infrastructure businesses, including the ANIL Ecosystem, Airports, and Roads, have shown significant operational improvements. These businesses now contribute 62% to the overall EBIDTA, up from 45% in the same quarter last year.
Gautam Adani, Chairman of the Adani Group, stated, “Adani Enterprises Ltd (AEL) is further expanding its position as India’s leading business incubator and a global model in infrastructure development.” He emphasized the company’s commitment to operational excellence and sustainable value creation.
Adani Enterprises Limited (AEL) is the flagship company of Adani Group, one of India’s largest business organizations. The company has successfully incubated and spun off several businesses, including Adani Ports and SEZ, Adani Energy Solutions, Adani Power, Adani Green Energy, Adani Total Gas, and Adani Wilmar.
Group CFO Jugshinder Singh highlighted the progress of the Greenfield-Ganga Expressway project and the Navi Mumbai airport project, which is on track for completion in 2024-25. He also noted that Adani Airports added eight new routes, six new airlines, and 30 new flights during the quarter. The roads portfolio saw the construction of 730 lane kilometers, the highest for any quarter since inception.
Doubts Revealed
Adani Enterprises Ltd -: Adani Enterprises Ltd is a big company in India that does many different kinds of businesses, like building roads and airports. It is part of the Adani Group, which is a very large group of companies.
Revenue -: Revenue is the total amount of money a company makes from selling its products or services before taking out any costs.
Net profit -: Net profit is the money a company has left after it pays all its costs and expenses. It’s like the company’s earnings.
Rs 26,067 crore -: Rs 26,067 crore is a way to say 260,670,000,000 rupees. In India, ‘crore’ means ten million.
Gautam Adani -: Gautam Adani is the chairman and founder of the Adani Group. He is one of the richest people in India.
CFO -: CFO stands for Chief Financial Officer. This person is in charge of managing the money and finances of a company.
Jugshinder Singh -: Jugshinder Singh is the Chief Financial Officer (CFO) of Adani Enterprises. He helps manage the company’s money and financial plans.
Greenfield-Ganga Expressway -: The Greenfield-Ganga Expressway is a new road project in India that will connect different cities and make travel faster and easier.
Navi Mumbai airport -: Navi Mumbai airport is a new airport being built near Mumbai to help more people travel by air.
