Adani Enterprises announced a drop in consolidated net profit for the quarter ended March 2016. During the quarter, the profit of the company declined 77.37% to Rs 1,668.00 million from Rs 7,371.70 million in the same quarter last year.
Revenues for the quarter declined 32.16% to Rs 109,498.20 million, compared with Rs 161,409.20 million for the prior year period.
Operating margin for the quarter stood at 4.71 percent as compared to 19.65 percent for the previous year period. Operating Income for the quarter was Rs 5,153.20 million, compared with Rs 31719.9 million in the previous year period.
Earnings per share for the quarter stood at Rs 1.52, registering 77.31% decline over previous year period.
Gautam Adani, chairman Adani Group, said, ''Our portfolio of businesses across Mining, Renewable energy and Agro vertical benefits from vastly improved macroeconomic and regulatory environment. Encouraging policy initiatives particularly in renewable space, enables us to explore new business opportunities in the sector.''
Ameet Desai, CFO Adani Group and executive director, Adani Enterprises, said, ''Our results reflect growth in operating performance across Mining, City Gas and Agro businesses. We have already begun our renewable foray by commencing activities in solar generation.''
| Quarterly Results - Consolidated (Rs in mn) |
| As at | Mar - 16 | Mar - 15 | %Change |
| Revenues | 109,498.20 | 161,409.20 | (32.16) |
| Net Profit | 1,668.00 | 7,371.70 | (77.37) |
| Diluted EPS | 1.52 | 6.70 | (77.31) |
Shares of the company declined Rs 6.95, or 8.1%, to trade at Rs 78.90. The total volume of shares traded was 1,522,857 at the BSE (3.19 p.m., Wednesday).
