Adani Enterprises: One-time income aids profit growth in Q1
Adani Enterprises Ltd (AEL) on Thursday posted a standalone net profit of ₹469 crore for Q1 FY20, against the net loss of ₹7 crore reported in the corresponding quarter a year ago.
Standalone revenues from operations stood at ₹5,436 crore for the period as against ₹2,676 crore in the same period last year.
On consolidated basis, company’s net profit for the quarter stood at ₹570 crore, as against ₹80 crore same period last year. Consolidated revenues from operations stood at ₹10,561 crore up from ₹7558 crore last year.
The company attributed the sharp growth in the profits to one-time income of ₹328 crores recognized in AEL’s Mine Development and Operations (MDO) business.
