- Monday, March 03, 2025
Profit from the coal trading segment, which contributes more than a third of overall revenue, halved as volumes fell due to lower demand
By: India Weekly
BILLIONAIRE Gautam Adani’s flagship company Adani Enterprises Ltd on Thursday (30) reported a 97 per cent drop in the third quarter net profit as key coal trading volumes were hit.
Net profit declined to ₹578.3 million (£5.37m) in October-December 2024 – the third quarter of April 2024 to March 2025 fiscal (FY25) – from ₹18.88 billion (£5.37m) a year ago, the company said in a statement.
Revenue from operations declined 9 per cent to ₹228.48 billion (£2.12bn).
Pre-tax profit (EBITDA) from the coal trading segment, which contributes more than a third of overall revenue, halved to ₹7.45 billion 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.
New energy vertical saw a 26 per cent rise in Profit Before Tax (PBT) at ₹6.91 billion in the third quarter while the airports business clocked a 2.6x growth at ₹2.37 billion 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.
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.
