Mumbai (Maharashtra) [India], May 4 : Ad Enterprises on Thursday posted a 137 per cent jump in its profit after tax to Rs 722 crore for the quarter ended March 31, 2023, against Rs 304.34 crore in the year-ago period.
The total income of the Ad Group's flagship firm went up 26 per cent to Rs 31,716 crore during the reviewed quarter whereas its Ebitda surged 157 per cent to Rs 3,957 crore in the March quarter over the figure of the previous year's quarter. The firm added that this jump in Ebitda was due to better operating performance across businesses.
The company said its revenue from operations for the reviewed quarter stood at Rs 31,346.05 crore, which surged 26 per cent from Rs 24,865.52 crore in the year-ago period.
In FY23, the company said its total income went up 96 per cent to Rs 1,38,175 crore on the account of strong performance by Integrated Resource Management (IRM) and Airport business whereas its earnings before interest, taxes, depreciation, and amortisation (Ebitda) increased 112 per cent to Rs 10,025 crore on the back of growth in incubating businesses Airports & Roads and Integrated Resources Management (IRM) business.
Its profit after tax increased 218 per cent to Rs 2,473 crore during fiscal FY23 in line with increased Ebidta. In FY23, its revenue reached Rs 136,977.76 crore as against Rs 69,420.18 crore during FY22.
Ad Group Chairman Gautam Ad said, "Once again, Ad Enterprises has lived up to its standing as not only India's most successful business incubator but also one of the world's most successful infrastructure foundries."
"The past year's results represent indisputable evidence of the strength and resilience of the Ad Group's operational and financial performance. These exceptional results also highlight our consistent track record of gestating and building critical infrastructure businesses," the chairman said.
He said, "Our mega-scale infrastructure project execution capabilities and our operation and maintenance (O&M) management skills, which are comparable to the best in the world, are strengths that we continue to derive from the Ad portfolio's diversity to create reliable long-term value for all our investors. Our focus remains on governance, compliance, performance, and cashflow generation."
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