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Adani's net profit climbs YOY in fiscal Q1'19 to 1.69B rupees

Adani Enterprises Ltd.'s net profit attributable to shareholders in the first quarter of its fiscal 2019 climbed to 1.69 billion Indian rupees, or 1.54 rupees per share, from a year-ago net profit of 1.59 billion rupees, or 1.45 rupees per share.

Total income declined to 80.64 billion rupees, from 86.37 billion rupees in the prior-year quarter. The income included revenue from operations of 79.54 billion rupees, compared to 85.48 billion rupees in the first quarter of fiscal 2018.

Total expenses in the quarter shrunk to 80.55 billion rupees from 85.06 billion rupees a year ago. EBITDA increased 17% year over year to 5.89 billion rupees, according to the company's Aug. 7 release.

Adani's coal mine development and operations segment recorded a 31% year-over-year increase in volumes to 2.2 million tonnes in the quarter.

Coal trading volumes fell to 11.5 million tonnes in the quarter from 16.0 million tonnes in the year-ago quarter.

Adani recently enlisted Rothschild to help sell a stake in its Abbot Point port operations in Queensland, Australia, a move that sources familiar with the matter said could help the company raise funds for the Carmichael coal project in the state.

As of Aug. 8, US$1 was equivalent to 68.66 Indian rupees.