Adani Enterprises Q4 Net Jumps Six-Fold to Rs 2,847.82 Crore

Adani Enterprises on Saturday reported a six-fold increase in consolidated net profit at Rs 2,847.82 crore for the fourth quarter that ended on March 31, 2014, boosted by gains from compensatory tariff for its arm Adani Power.

Adani Enterprises - the flagship firm of the Adani group - had posted a net profit of Rs 473.78 crore for the corresponding quarter a year ago.

Total income increased to Rs 16,171 crore in the quarter under review as against Rs 11,512.9 crore a year ago.

Derivative gain during the quarter stood at Rs 240.31 crore over Rs 69.72 crore in the corresponding period a year-ago.

"Income from operations includes revenue recognised by one of the subsidiary companies i.e. Adani Power Ltd amounting to Rs 1,843.12 crore towards the compensatory tariff comprising of lump sum compensation of Rs 829.75 crore till March 2013 and Rs 1,013.37 crore from April, 1 2013 to March 31, 2013," the company said in the filing.

Adani Enterprises' mainstay trading business reported a marginal 0.9 per cent increase in revenues at Rs 5,203.53 crore in the last quarter of fiscal year 2013-14, while income from port business was down 7.27 per cent at Rs 791.77 crore.

Revenue from power business rose to Rs 6,125.34 crore from Rs 1,924.53 crore a year ago.

Total expenses jumped 22.8 per cent to Rs 13,000.75 crore.

Shares in Adani Enterprises had ended at Rs 530.90 apiece on the BSE on Friday, up 0.06 per cent from the previous close.