Adani Enterprises posts Rs 75 cr Q2 loss as group firm writes off Rs 130 cr
A write-off worth Rs 130 crore of an exploration block in one of its group subsidiaries has led to Adani Enterprises Ltd (AEL) posting a loss before tax of Rs 74.54 crore for the second quarter ended September 30, 2019. The flagship company of Adani Group had delivered a profit before tax of Rs 29 lakh in the corresponding quarter of the previous fiscal 2018-19.
AEL’s consolidated total income for the second quarter of fiscal 2019-20 stood at Rs 8,627 crore as against Rs 9,265 crore for the corresponding period in the previous year, registering a fall of six per cent. The earnings before interest, depreciation, tax, and amortization (EBIDTA) for the quarter stood at Rs 540 crore as compared to Rs 552 crore in Q2FY19.
