Adani Enterprises’ net profit falls 97% on tepid coal trading

New Delhi: Adani Enterprises Ltd (AEL), the flagship company of billionaire Gautam Adani-led group, on Thursday reported a 97 per cent drop in the third quarter net profit as key coal trading volumes were hit.

Net profit declined to Rs 57.83 crore in October-December 2024 - the third quarter of FY25 - from Rs 1,888.45 crore earnings a year back, the company said in a statement. Revenue from operations fell 9 per cent to Rs 22,848.42 crore.

Pre-tax profit (EBITDA) from the coal trading segment, which contributes more than a third of overall revenue, halved to Rs 745 crore as volumes fell.

The volume drop was primarily because of lower demand from the power sector where the share of renewable energy sources has risen. Third quarter profit was also impacted due to “high notional forex loss in finance cost of Australia mining due to depreciation of Australian dollar,” it said.

For the first nine months of the current fiscal, net profit rose 17 per cent to Rs 3,254 crore while total income was up 6 per cent at Rs 72,763 crore. “This exceptional nine-month performance underscores Adani Enterprises Ltd’s position as a powerhouse for nurturing transformative infrastructure and energy transition sectors,” said Adani Group chief Gautam Adani.