Adani Enterprises posts Rs 138 cr Q1 pre tax-loss as Covid hits volumes

Gautam Adani-promoted Adani Enterprises reported a pre-tax loss of Rs 137.54 crore in the June quarter, as volumes took a hit due to Covid and ensuing lockdowns.

The company in its statement said volumes across segments were impacted owing to lower power demand and logistics issues due to Covid-19 pandemic. For the quarter under review, the company reported a loss before tax and exceptional items against a profit before tax and exceptional items of Rs 442.12 crore in the same period a year ago.

For the June 2020 ended quarter, profit after tax (PAT) attributable to owners was Rs 30 crore, against Rs 601 crore a year ago. Revenue from operations halved to Rs 5,265.19 crore, from Rs 10,561.37 crore a year ago.