Adani Enterprises Profit Slumps 97% on Weak Coal Trading
By Rediff Money Desk, New Delhi Jan 30, 2025 16:09
Adani Enterprises, the flagship company of Gautam Adani's group, reported a 97% drop in third-quarter net profit due to lower coal trading volumes. The company attributed the decline to weaker demand from the power sector.

Photograph: Amit Dave/Reuters
New Delhi, Jan 30 (PTI) Adani Enterprises Ltd, 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 April 2024 to March 2025 fiscal (FY25) - from Rs 1,888.45 crore earnings a year back, the company said in a statement.
Revenue from operations declined 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 Gautam Adani, Chairman of the Adani Group.
"Strong growth across our incubating businesses, from energy transition to logistics and adjacencies, highlights the immense potential of our core plus portfolio.
"These results are a testament to our focus on execution operational excellence, innovation and sustainability as we continue to set new benchmarks across sectors. With each milestone, AEL reaffirms its commitment to creating long-term value for its stakeholders while contributing to India's progress and global competitiveness," he said.
New energy vertical saw a 26 per cent rise in Profit Before Tax (PBT) at Rs 691 crore in the third quarter while the airports business clocked a 2.6x growth at Rs 237 crore PBT.
Adani-operated airports handled 24.6 million passengers, up 8 per cent over Q3 of the previous fiscal. Road construction saw a 4.8x rise in construction at 805.1 line kilometres while mining dispatches were up 55 per cent at 11.8 million tonnes. Coal trading, however, saw volumes drop 42 per cent to 21.1 million tonnes in October-December 2024.
For April-December 2024, coal trading registered a 28 per cent drop at 41.2 million tonnes.
Giving operational updates, the firm said energy unit Adani New Industries posted a record 3.3 GW module sales during nine months on the back of export growth of 20 per cent and domestic sales increase of 176 per cent.
"EBITDA margins continue to rise on account of improved realisation and operational efficiency through integrated production of cell and module line wind turbine manufacturing," it said.
On data centres, AEL said Noida data centre is almost 99 per cent complete and Phase-I of Pune centre is 59 per cent and 73 per cent of Phase-II. Hyderabad data centre is operational with 9.6 GW capacity.
In the airport's business, 14 new routes, 4 new airlines and 9 new flights were added.
"Navi Mumbai airport successfully conducted the first commercial flight validation test and is now a step closer to becoming operational," it said.
Net profit declined to Rs 57.83 crore in October-December 2024 - the third quarter of April 2024 to March 2025 fiscal (FY25) - from Rs 1,888.45 crore earnings a year back, the company said in a statement.
Revenue from operations declined 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 Gautam Adani, Chairman of the Adani Group.
"Strong growth across our incubating businesses, from energy transition to logistics and adjacencies, highlights the immense potential of our core plus portfolio.
"These results are a testament to our focus on execution operational excellence, innovation and sustainability as we continue to set new benchmarks across sectors. With each milestone, AEL reaffirms its commitment to creating long-term value for its stakeholders while contributing to India's progress and global competitiveness," he said.
New energy vertical saw a 26 per cent rise in Profit Before Tax (PBT) at Rs 691 crore in the third quarter while the airports business clocked a 2.6x growth at Rs 237 crore PBT.
Adani-operated airports handled 24.6 million passengers, up 8 per cent over Q3 of the previous fiscal. Road construction saw a 4.8x rise in construction at 805.1 line kilometres while mining dispatches were up 55 per cent at 11.8 million tonnes. Coal trading, however, saw volumes drop 42 per cent to 21.1 million tonnes in October-December 2024.
For April-December 2024, coal trading registered a 28 per cent drop at 41.2 million tonnes.
Giving operational updates, the firm said energy unit Adani New Industries posted a record 3.3 GW module sales during nine months on the back of export growth of 20 per cent and domestic sales increase of 176 per cent.
"EBITDA margins continue to rise on account of improved realisation and operational efficiency through integrated production of cell and module line wind turbine manufacturing," it said.
On data centres, AEL said Noida data centre is almost 99 per cent complete and Phase-I of Pune centre is 59 per cent and 73 per cent of Phase-II. Hyderabad data centre is operational with 9.6 GW capacity.
In the airport's business, 14 new routes, 4 new airlines and 9 new flights were added.
"Navi Mumbai airport successfully conducted the first commercial flight validation test and is now a step closer to becoming operational," it said.
Source: PTI
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