Coal news and updates

Adani Enterprises consolidated PAT up in Q3FY’15

January 30: Adani Enterprises Ltd, the flagship company of the Adani Group, has posted a consolidated profit after tax (PAT) of Rs 444 crore, sharply up as compared to Rs 68 crore earned in in Q3 of FY’14, according to a company statement.

The company’s consolidated total income for Q3FY’15 increased by 30% to Rs 17,850 crore as compared to Rs 13,739 crore earned in Q3FY’14.

In fact, the company’s consolidated PAT for the first nine months during FY’15 rose by 293% to Rs 1,211 crore against a net loss of Rs 627 crore.

Commenting on the performance of the company, Gautam Adani, Chairman, Adani Group, said, “The scheme of arrangement will simplify corporate structure and is a decisive step towards unlocking the potential value of the Adani Group companies.”

“The scheme of arrangement will drive the next level of value creation, competency, decision-making and would be able to accelerate the business growth. These developments and a positive macro-economic environment re-affirm our commitment towards securing infrastructure and energy needs of the country,” he added.