Adani airport business posts Rs 1.48 billion pre-tax loss in Q2

30 Oct 2024 CW Team

For the half-year period (April-September), the company recorded a pre-tax loss of Rs 2.37 billion, compared to Rs 1.63 billion in the previous year. However, revenue for the six-month period increased by 22% to Rs 44.53 billion.

The company’s operational performance improved, with EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) rising 31% year-on-year to Rs 7.44 billion in Q2. For the half-year period, EBITDA stood at Rs 14.26 billion, marking a 32% increase compared to the same period last year.

Adani Enterprises Ltd, the parent company, reported consolidated net profit of Rs 17.42 billion for the July-September quarter, a more than sevenfold increase from the previous year. Consolidated revenue also grew by 15% year-on-year to Rs 231.96 billion.

“Our focus on executing greenfield projects in Adani New Industries Ltd (ANIL), including three giga-scale manufacturing plants, along with the rapid development of Navi Mumbai International Airport, is driving these strong results. We expect to replicate this growth across data centers, roads, metals, materials, and specialized manufacturing,” said Gautam Adani, Chairman, Adani Group, in a statement.

Adani Airport Holdings aims to make the under-construction Navi Mumbai International Airport operational in the first half of 2025. During Q2, the company’s seven operational airports—Mumbai, Jaipur, Lucknow, Guwahati, Ahmedabad, Mangaluru, and Thiruvananthapuram—handled 22.3 million passengers, reflecting a 5% year-on-year growth. Air cargo throughput surged 47% to 280,000 metric tonnes, with the company now managing around 23% of India’s domestic air passenger traffic.

The quarter also saw the addition of six new routes, six new airlines, and 13 new flights across the company’s airport network.

(ET)

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Adani Airport Holdings Ltd, a subsidiary of Adani Enterprises Ltd responsible for airport operations, reported a pre-tax loss of Rs 1.48 billion for the July-September quarter, widening from a loss of Rs 650 million in the same period last year. Despite the loss, revenue for the quarter rose 17% year-on-year to Rs 22.76 billion. For the half-year period (April-September), the company recorded a pre-tax loss of Rs 2.37 billion, compared to Rs 1.63 billion in the previous year. However, revenue for the six-month period increased by 22% to Rs 44.53 billion. The company’s operational performance improved, with EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) rising 31% year-on-year to Rs 7.44 billion in Q2. For the half-year period, EBITDA stood at Rs 14.26 billion, marking a 32% increase compared to the same period last year. Adani Enterprises Ltd, the parent company, reported consolidated net profit of Rs 17.42 billion for the July-September quarter, a more than sevenfold increase from the previous year. Consolidated revenue also grew by 15% year-on-year to Rs 231.96 billion. “Our focus on executing greenfield projects in Adani New Industries Ltd (ANIL), including three giga-scale manufacturing plants, along with the rapid development of Navi Mumbai International Airport, is driving these strong results. We expect to replicate this growth across data centers, roads, metals, materials, and specialized manufacturing,” said Gautam Adani, Chairman, Adani Group, in a statement. Adani Airport Holdings aims to make the under-construction Navi Mumbai International Airport operational in the first half of 2025. During Q2, the company’s seven operational airports—Mumbai, Jaipur, Lucknow, Guwahati, Ahmedabad, Mangaluru, and Thiruvananthapuram—handled 22.3 million passengers, reflecting a 5% year-on-year growth. Air cargo throughput surged 47% to 280,000 metric tonnes, with the company now managing around 23% of India’s domestic air passenger traffic. The quarter also saw the addition of six new routes, six new airlines, and 13 new flights across the company’s airport network. (ET)

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