Adani Enterprises'' Q3 net jumps at Rs 474 cr; sales down

Posted By: Pti
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Mumbai, Feb 14 (PTI) Adani Enterprises, the flagshipcompany of leading infrastructure conglomerate the AdaniGroup, today said it has posted a net profit of Rs 474 crorein the third quarter ended December 31, a rise of 56 per centover Rs 304 crore posted in the same period last year.

However, sales during the period under review droppedby 11 per cent to Rs 5,643 crore from Rs 6,372 crore in thecorresponding period the previous year, the company said.

The decrease in revenue was due to gradual phasing outof the trading business, it said, adding most of the sales inthe quarter came from port and power businesses, whichcontributed heavily to the bottom line.

"With operations in Australia, Indonesia and India,the company is poised to be the largest private player in themining sector," Adani Enterprises Chairman Gautam Adani saidin a release here.

"We recently acquired two vessels to help bolster ourintegrated logistics coal value chain, which coupled with thelogistics of Mundra Port, would boost revenues going ahead."

Part of the revenue came from Adani Power, that sold4,081 million units of electrical energy during the nine-monthperiod ended December 2010 compared to 606 million units forthe corresponding period last year.

Incidentally, the 1,717 million units of energy soldin Q3 FY 11 accounted for Rs 334 crore of the company''s EBITDAfor the current quarter.

Mundra Ports also contributed largely to the bottomline of as it witnesses a steep 26 per cent rise in cargo. Theprivate port handled over 12.42 million tonnes of cargo in thequarter under review. (more) PTI PP RSY

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