Adani Enterprises Consolidated EBIDTA rose 54% to Rs 3,041 crore for Q2FY15
The consolidated Total Income for quarter increased by 3% to Rs 14,067 crore against Rs 13,602 crore in the corresponding period last year. The consolidated EBIDTA increased by 53% to Rs 3,041 crore against Rs 1,983 crore in the corresponding period last year. The consolidated PAT for Q2FY15 is Rs 210 crore.
The consolidated Total Income for half year ended September 30, 2014 increased by 22% to Rs 30,591 crore against Rs 25,149 crore in the corresponding period last year. The consolidated EBIDTA increased by 58% to Rs 6,316 crore against Rs 4,000 crore in the corresponding period last year. The consolidated PAT for H1FY15 is Rs 767 crore.
Commenting on the results, Mr Gautam Adani, Chairman Adani Group, said, “The policy measures announced by the new Government to address the structural issues impacting infrastructure and energy sectors will revive investment in the sectors. We remain committed to our investment programme across Resources, Logistics and Energy verticals to cater to the increasing demand in the Country.”
Mr Ameet Desai, Group Chief Financial Officer, Adani Group, said, “Our results are testimony of the intrinsic strength of our integrated business model with substantial contribution from Coal trading, Ports & Logistics and Power businesses. With the measures for easing financing to the infrastructure projects coupled with enhanced operational efficiencies, we expect further boost to our financial performance.”
Mundra Port as the top commercial port in India handled 55.4 MMT cargo with 15% growth in the H1FY15 compared to a growth of 4% for cargo at all other ports.
It has handled 1.35 million TEUs in H1FY15 as against 1.04 million TEUs in the corresponding period last year with 29% growth as compared to growth by 6% for container volume at all other ports.
Mundra Port continued to handle highest Coal volume 21.2 MMT during H1FY15 (Paradip Port 17.95 MMT).
The port at Dahej and Hazira handled a cargo of 6.12 MMT and 3.05 MMT in H1FY15 thereon showing growth of 30% and 65% respectively.
The project execution of Tuna Tekra Bulk Terminal at Kandla and Ennore Container Terminal are progressing well.
2. Power Generation & Transmission
Adani Power result reflects higher volume of power generation and improved operational efficiencies. It has achieved thermal power generation capacity of 9,240 MW.
In order to consolidate transmission line business across the group under one entity, the meeting of Board of Directors has approved the proposal to divest the company’s holding of 70.75 crores equity shares in Maharashtra Eastern Grid Power Transmission Co. Ltd (MEGPTCL) to Adani Transmission Ltd., a wholly owned subsidiary of Adani Enterprises Ltd. at a price to be determined on the basis of independent valuation report subject to requisite approvals, if any.
3. Coal Mining
Our MDO (Mine Development and Operations) contracts are in respect of mines allocated to state utilities i.e. Government companies. The ordinance has carved out special provision for allotment of the cancelled coal blocks to Government companies without going through public auction.
Our MDO contract for Kente Ext. is not affected by Honorable SC order since it was allocated to RRUVNL under new auction by competitive bidding of Coal Mines Rules 2012.
The State and Federal Government approved environmental impact statement for the North Galilee Basin Rail (NGBR) Project in Queensland, Australia. The project execution is progressing as per the schedule.
ABOUT ADANI GROUP
As part of preparing the Group for the next phase of our growth, we have re-fomulated our 2020 vision: To be globally admired leader in integrated infrastructure businesses with a deep commitment to nation building. We shall be known for the scale of our ambition, speed of execution and quality of operation.This is what we mean by ‘Thinking big Doing better’. Our brand guidelines are designed for use by internal staff across the Group, and our external suppliers. They are guides to implementing the Adani visual identity across all marketing collateral, printed and digital. Adani Group is 10,400 people across the globe working for a common purpose.
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