The flagship company of the Adani Group Adani Enterprises Ltd. posted fourth-quarter stand-alone net loss of Rs.73.61 crore or Re.0.67 per share, compared with a net profit of Rs.170.55 crore or Re.1.55 per share in the corresponding quarter last year.
Its quarterly net income from operations was more than doubled to Rs.3,418.70 crore from the Rs.1,400.06 crore in the year-ago quarter, while other operating income was Rs.3.55 crore, compared with Rs.6.73 crore for the same period last year.
For the fiscal year, the Ahmedabad-based company posted stand-alone net profit of Rs.519.83 crore, higher by 44 percent than the Rs.361.73 crore last year. Net income from operations amounted to Rs.11,886.77 crore, surged by 125 percent from the Rs.5,274.85 crore in 2012, while other operating income was Rs.4.11 crore, compared with Rs.7.35 crore a year-ago.
Consolidated Results
For the fourth-quarter, its consolidated net profit, after minority interest and share of associates, was Rs.473.78 crore or Rs.4.31 per share, compared with Rs.309.45 crore or Rs.2.81 per share in the corresponding quarter last year, reflecting a 53 percent growth.
Its quarterly net income from operations grew by eight percent to Rs.11,472.12 crore from the Rs.10,594.29 crore in the year-ago quarter, driven by higher contribution from the port business and coal trading. Other operating income for the quarter was Rs.40.78 crore, compared with Rs.41.40 crore for the same period last year.
For the fiscal year, the company posted consolidated net profit, after minority interest and share of associates, of Rs.1,612.98 crore, lower by 12 percent than the Rs.1,839.21 crore last year. Net income from operations amounted to Rs.46,368.85 crore, up by 18 percent from the Rs.39,283.88 crore in 2012, while other operating income was Rs.93.56 crore, compared with Rs.71.75 crore a year-ago.
The coal trading during the fiscal year was 46.5 MMT, while Port cargo handled was 90.7 MMT. The Power sold during the year stood at 20.8 billion units, the company said.
The company's board recommended a dividend of 140 percent or Rs.1.40 per equity share of Rs.1 each for the fiscal year 2013.
The board also approved the re-appointment of Gautam S. Adani, as an Executive Chairman of the company for a further period of five years effective December 01, 2013.
Commenting on the results, Adani Group Chairman Gautam Adani said, "With the commencement of our Mine Development & Operations (MDO) at Paras Kante, Chattistarh, we have repeatedly demonstrated our excellence at seamless project execution and operational stabilization among uncertainties. We will exhibit similar resilence in overcoming all challenges and continue superior performance delivery in all our focus areas of Resources Logistics and Energy."
At the BSE, Adani Enterprises closed Monday's trading at Rs.243, up 3.32 percent from the previous close.
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