Earnings Review
Adani Enterprises Q2 consolidated PAT surges on INR 35.8-bln one-time gain
This story was originally published at 17:46 IST on 4 November 2025
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--Adani Ent Jul-Sept consol net profit INR 31.99 bln
--Adani Ent Jul-Sept consol net profit INR 31.99 bln vs INR 17.42 bln yr ago
--Adani Ent Jul-Sept consol revenue INR 212.49 bln vs INR 226.08 bln yr ago
--Adani Ent Jul-Sept net profit includes one-time income INR 35.83 bln
--Adani Ent board OKs raising up to INR 250 bln via rights issue
--Adani Ent Apr-Sept consol net profit INR 39.33 bln vs INR 31.96 bln yr ago
--Adani Ent Apr-Sept consol revenue INR 432.10 bln vs INR 480.80 bln yr ago
--Adani Ent Q2 loss exlcuding one-time income is INR 3.85 bln
--Adani Ent Q2 consol EBITDA INR 39.02 bln vs INR 43.54 bln year ago
--Adani Ent shares fall more, at INR 2,412.10, down 2.2% vs 0.6?rlier
--Adani Ent Q2 consol integrated resources mgmt revenue INR 66.58 bln
--Adani Ent Q2 consol mining services revenue INR 10.61 bln vs INR 8.05 bln
--Adani Ent Q2 consol energy ecosystem revenue INR 31.56 bln vs INR 30.44 bln
--Adani Ent Q2 consol airport revenue INR 32.07 bln vs INR 22.47 bln yr ago
--Adani Ent shrs fall more; Q2 loss exlcuding one-time income INR 3.85 bln
--Adani Ent Q2 consol road revenue INR 16.64 bln vs INR 24.71 bln year ago
--Adani Ent Q2 consol commercial mining sales INR 17.12 bln vs INR 20.98 bln
--Adani Ent H1 consol EBITDA INR 76.88 bln vs INR 86.54 bln year ago
--Adani Ent Q2 one-time gain INR 29.69 bln on AWL Agri Business stake sale
--Adani Ent Q2 one-time gain INR 6.2 bln on merger of unit with Ambuja Cement
By Arya S. Biju and Pallavi Singhal
MUMBAI – Adani Enterprises Ltd.'s consolidated net profit for the September quarter jumped up sharply on-year boosted by a one-time gain of INR 35.83 billion. Excluding this one-time income, the company would have reported a net loss of INR 3.85 billion for the reporting quarter.
The one-time gain included INR 29.69 billion received by the company from the sale of 10.4% stake in AWL Agri Business Ltd., earlier known as Adani Wilmar, to Lence Pte., and INR 6.15 billion received on merger of its wholly-owned subsidiary Adani Cementation Ltd. with Ambuja Cement Ltd.
The flagship Adani group company's consolidated net profit for the September quarter jumped up around 84% on year to INR 31.99 billion. On a sequential basis, the company's bottom line more than quadrupled. This is the second highest net profit reported by the company since the December quarter of 2014.
Rise in total expenses against a fall in net sales impacted the company's bottom line for the quarter excluding the one-time income. Revenue from operations for the quarter fell 6% on year and over 3% sequentially to INR 212.49 billion. This marks the fourth straight quarter of the company reporting an on-year decline in its top line.
The fall in the company's net sales was mainly on account of a sharp on-year fall in revenue from its largest segment, integrated resource management, which houses the coal business. Revenue from the segment fell around 29% on year to INR 66.58 billion because of low volumes. Sales volumes from the segment fell 17% on year to 11.3 million tonnes.
The airport business posted robust growth, with revenue rising 43% on year to INR 32.07 billion during the reporting quarter. Revenue of its new energy ecosystem segment grew 4% on year to INR 31.56 billion, while commercial mining sales fell to INR 17.12 billion from INR 20.98 billion year ago. Mining services and roads together contributed around INR 27 billion to the company's total revenue. While the revenue from its roads segment was down nearly 33% at INR 16.64 billion, the revenue from mining was up almost 32% at INR 10.61 billion.
The company reported a slight improvement in its operating margin to 15.6% from 14.3% a year ago, supported by better performance in airports and the new-energy ecosystem. However, its consolidated earnings before interest, tax, depreciation, and amortisation declined 10.4% on year to INR 39.02 billion from INR 43.54 billion a year ago.
The board of directors has approved raising up to INR 250 billion through a rights share issue, with detailed terms to be decided later.
For the Apr–Sept period, the company's consolidated net profit rose to INR 39.33 billion from INR 31.96 billion a year earlier, while revenue fell to INR 432.10 billion from INR 480.80 billion. Consolidated EBITDA for the half-year stood at INR 76.88 billion, compared with INR 86.54 billion in the same period last year.
Shares of the company, which were trading around 0.6% lower ahead of its earnings, fell further after the announcement and ended the session almost 2% lower at INR 2,419.80 on the National Stock Exchange. End
Edited by Ashish Shirke
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