Adani Group’s flagship company, Adani Enterprises ltd, reported a profit after tax of Rs 557 crore for the first quarter ending June 30, 2014 on the back of a 43 per cent jump in revenue.
The company had posted a loss of Rs 278 crore in the corresponding quarter of the previous financial year, Adani Enterprises said in a statement. "Our improved performance has set the direction of growth as we see greater contribution from completed projects in our ports, power and mining verticals," said Gautam Adani, Chairman of Adani Group.
Consolidated total income for the period increased by 43 per cent to Rs 16,524 crore as compared to Rs 11,547 crore in the same period last fiscal. "With efforts from new Government to address the concerns of fuel availability, rail infrastructure, transmission constraints, project approvals and debottlenecking of mining sector, we see greater growth opportunities in the sectors we operate," Adani said.