Adani Enterprises on Thursday reported a 96.9 per cent drop in its consolidated net profit for the
third quarter (Q3) of the financial year 2024-25 (FY25) at Rs 57.83 crore from Rs 1,888.45 crore reported during the same period last year. The sharp decline was attributed to underperformance in the company’s coal trading division.
Sequentially, the company saw a 96.7 per cent decline in its net profit from Rs 1,741.75 crore.
Despite the decline in profit, consolidated revenue from operations for the quarter saw a marginal 8.8 per cent drop to Rs 22,848.42 crore year-on-year from Rs 25,050.23 crore. Sequentially revenue was flat, registering just a 1 per cent rise from Rs 22,608.07 crore.
Consolidated total expenses for the company went down marginally by 1 per cent Y-o-Y to Rs 22,924.98 crore from Rs 23,180.79 crore. Sequentially, expenses for the Adani entity went up by 10.3 per cent from Rs 20,787.29 crore.
Cash accruals fell 59 per cent to Rs 1,102 crore, from Rs 2,679 crore in Q3 FY24.
Segment-wise growth
Adani New Industries Ltd (ANIL Ecosystem) reported strong growth for Q3FY25, with total income increasing by 38 per cent to Rs 2,941 crore, compared to Rs 2,130 crore in Q3 FY24. Ebitda grew by 34 per cent to Rs 903 crore, up from Rs 673 crore in the same quarter last year. Profit Before Tax (PBT) saw a 26 per cent rise, reaching Rs 691 crore, compared to Rs 547 crore in Q3 FY24. In the Airports Business, total income for Q3FY25 rose by 33 per cent to Rs 2,939 crore, up from Rs 2,209 crore in Q3 FY24. Ebitda surged 59 per cent, reaching Rs 1,101 crore, compared to Rs 695 crore in the previous year. PBT more than doubled, reaching Rs 237 crore from Rs 66 crore in Q3 FY24.
AEL is currently facing customs duty demands totalling Rs 863.62 crore for coal imports, with Rs 460.61 crore already deposited under protest, the company said in an exchange filing. The company maintains that, as a merchant trader, it generally recovers these costs from customers, limiting any material financial impact.
Despite the sharp drop in Q3 profits, Adani Enterprises posted strong financial growth over the nine-month period (April-December 2024):
Revenue rose 6 per cent Y-o-Y to Rs 72,763 crore.
Commenting on the 9M period, Chairman of Adani Group Gautam Adani said, "This exceptional nine-month performance underscores Adani Enterprises Ltd’s position as a powerhouse for nurturing transformative infrastructure and energy transition sectors. 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."