Business

Adani Enterprises reports 43 pc rise in EBIDTA in H1 FY24

Adani Enterprises Ltd (AEL), part of the Adani Group, has announced its earnings before interest, taxes, depreciation, and amortization (EBIDTA) increased by 43 percent to Rs. 5,874 crore during the quarter and half year ended September 30, 2023.

The report also states emerging core infra incubating businesses contributed 48 percent of the total EBIDTA for Adani Enterprises. Meanwhile, incubating assets backed EBIDTA surged by 111 percent to Rs. 2,825 crore, indicating robust growth and the significant role of these businesses in the company’s financial performance.

AEL, has made significant progress in its strong incubation pipeline during the first half of the fiscal year 2023-24. The company’s latest results showcase the emergence of key incubating businesses, including green hydrogen integrated manufacturing ecosystem, airports and roads, which collectively contributed 48% of the overall EBITDA.

“We are fundamentally reshaping the essence of incubation scale and velocity,” said Mr. Gautam Adani, Chairman of the Adani Group. “Adani Enterprises covers sectors that span energy, utility, transport, D2C, and primary industries. With many ventures now market-ready and thriving, our H1 FY23-24 results have been boosted by the core infra incubating businesses, thereby being a strong testament to our incubating ventures.”

Adani’s quarterly business updates showcase robust year-over-year growth. In solar manufacturing, operational capacity is at 4.0 GW, with a 205 percent increase in module sales and the achievement of producing India’s first wafer. Wind turbine manufacturing achieved key milestones, including Prototype 1 certification and commercial operations. AdaniConnex’s data centers in Chennai, Noida, and Hyderabad are operating at substantial capacities. Adani Water attained a Commercial Operation Date certificate for the Prayagraj water project. Adani Airports exhibited remarkable growth, with a 31 percent surge in passenger movements, a 17 percent increase in air traffic movements, and a substantial cargo volume of 1.9 lakh metric tons, managing operations at seven airports, read a media release.

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