Chennai: The flagship company of Adani Group Adani Enterprises Ltd closed the third quarter of the current fiscal with a consolidated net profit of Rs 820.06 crore.
According to the company, it had earned a total income of Rs 26,950.83 crore for the quarter ended December 31, 2022 (Q3FY21 Rs 18,963.40 crore) and a net profit of Rs 820.06 crore (net loss of Rs 11.63 crore).
For the nine month period Adani Enterprises’ total income stood at Rs 106,458.72 crore (Rs 70,432.69 crore) and a net profit of Rs 1,750.46 crore (Rs 776.56 crore).
“Over the past three decades, as well as quarter after quarter and year after year, Adani Enterprises has not only validated its standing as India’s most successful infrastructure incubator but has also demonstrated a track record of building core infrastructure business,” said Gautam Adani, Chairman of the Adani Group.
According to him, the group’s success is due to strong governance, strict regulatory compliance, sustained performance and solid cash flow generation.
“The current market volatility is temporary; and as a classical incubator with a vision of long-term value creation, AEL (Adani Enterprises Ltd) will continue to work with the twin objectives of moderate leverage and looking at strategic opportunities to expand and grow,” Adani added.
An US-based short seller in a report had alleged the Adani group of various irregularities following which share prices of the listed companies went down.