New Delhi: Billionaire Gautam Adani's conglomerate, which operates in ports and energy sectors, experienced a 33 per cent increase in pre-tax profit in the June quarter. This growth was driven by the strong performance of the core infrastructure business, as well as the success of emerging ventures such as solar and wind manufacturing, and airports. The group stated that EBITDA in April-June increased by 32.87 pc year-on-year to Rs 22,570 crore, leading to a TTM EBITDA of Rs 79,180 crore, a 45.13 pc rise from the previous year.
In the first quarter of the 2024-25 fiscal year, the group's net profit increased by more than 50 per cent to Rs 10,279 crore. It was stated that the Group's EBITDA continues to grow steadily due to the strong and dependable 'core infrastructure' platform, making up more than 80 percent of the portfolio EBITDA and experiencing an impressive 41.6 percent increase in Q1 compared to the previous year.
The main infrastructure platform includes Adani Enterprises Ltd's leading infrastructure businesses in utility and transport sectors, such as Adani Green Energy, Adani Power, Adani Energy Solutions, Adani Total Gas, and Adani Ports & SEZ. In April-June, Adani Enterprises, the group's business incubator, experienced a 46 percent increase in EBITDA to Rs 4,487 crore and more than doubled its net profit to Rs 1,776 crore. Adani Green Energy, a renewable energy company, saw a 30 per cent increase in EBITDA to Rs 2,866 crore and nearly doubled its net profit to Rs 629 crore due to a nearly one-third expansion in operational capacity. Adani Power saw a 54 pc increase in profit to Rs 3,490 crore due to sales, while Adani Ports & SEZ experienced a 47 pc surge to Rs 3,107 crore.
Adani Total Gas Ltd, a city gas distribution firm, reported the lowest profit growth with a 14.4 pc increase to Rs 172 crore. The growth of Adani Enterprises Ltd was driven by the emerging infrastructure businesses like Adani New Industries Ltd, airports, and roads, which saw a 70 percent increase in segment EBITDA to Rs 2,991 crore. Adani stated that the net debt to EBITDA leverage of 2.2x was the lowest it had been in several years.
Adani Enterprises' strong quarter performance was driven by its new ventures such as solar and wind manufacturing - the largest in India and a crucial part of a comprehensive green hydrogen network - alongside its airports and roads divisions. It was stated that these rapidly expanding companies now make up 13.3 percent of the EBITDA at portfolio level, compared to 7.2 percent a year earlier. Adani's infrastructure platform, known for its high stability and predictability, is credited for the considerable and enduring growth.
India's premier vertically integrated solar PV manufacturer, leading in solar module production, experienced a 125 pc increase in module sales in the quarter compared to the previous year. The airport industry is experiencing robust growth due to an increase in passenger traffic, more consumer options, and the expansion of routes, airlines, and flights in seven airports. The yearly number of passengers traveling through 7 Adani-operated airports exceeded 90 million for the first time.
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