Adani Enterprises reports 43% rise in EBIDTA

Business Friday 03/November/2023 06:55 AM
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Adani Enterprises reports 43% rise in EBIDTA

Ahmedabad: Adani Group flagship firm Adani Enterprises on Thursday reported that its earnings before interest, taxes, depreciation, and amortization (EBIDTA) increased by 43 per cent to Rs. 5,874 crores during the April-September quarter of 2023-24.

The Adani Group company's cash accruals increased by 48 per cent to Rs 2,733 crore during the first half of the current fiscal.

Adani Enterprises, part of the Adani Group, today announced its results for the quarter and half-year ended September 30, 2023.

The company has made significant progress in its strong incubation pipeline during the first half of the fiscal year 2023-24.

The company's latest results showcased the emergence of key incubating businesses, including green hydrogen integrated manufacturing ecosystems, airports and roads, which collectively contributed 48 per cent of the overall EBITDA.

"We are fundamentally reshaping the essence of incubation scale and velocity," said Gautam Adani, Chairman of the Adani Group, as per a company media release.

"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," Gautam Adani added. +