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EquityWireEarnings Review: Adani Ent posts net loss in Q4 vs PAT yr ago as costs rise
Earnings Review

Adani Ent posts net loss in Q4 vs PAT yr ago as costs rise

This story was originally published at 18:34 IST on 30 April 2026
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Informist, Thursday, Apr. 30, 2026

 

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--Adani Enterprises resource mgmt volume 9.3 mln tn, down 40% on year
--Adani Ent Jan-Mar consol EBITDA INR 44.79 bln vs INR 43.46 bln yr ago
--Adani Ent Jan-Mar consol road revenue INR 11.96 bln vs INR 27.84 bln
--Adani Ent Q4 consol mining services revenue INR 12.63 bln vs INR 12.34 bln
--Adani Ent Q4 consol energy ecosystem revenue INR 51.35 bln vs INR 36.48 bln
--Adani Ent Jan-Mar consol copper ops sales INR 91.45 bln vs INR 13.46 bln
--Adani Ent Jan-Mar consol airport revenue INR 34.50 bln vs INR 27.07 bln
--Adani Ent Q4 consol resources mgmt sales INR 68.62 bln vs INR 101.70 bln
--Adani Ent Jan-Mar consol operating margin 11.50% vs 13.78% year ago
--Adani Ent FY26 consol revenue INR 1.005 tln vs INR 978.95 bln yr ago
--Adani Ent FY26 consol net profit INR 93.39 bln vs INR 70.99 bln yr ago
--Adani Ent board OKs raising up to INR 150 bln by issuing equity shares
--Adani Ent dividend record date Jun 12
--Adani Ent to pay INR 1.3 per share dividend
--Adani Ent Jan-Mar consol expenses INR 324.58 bln vs INR 262.89 bln yr ago
--Adani Ent Jan-Mar consol costs of materials INR 118.28 bln vs INR 35.90 bln
--Adani Ent Jan-Mar consol revenue INR 324.39 bln vs INR 269.66 bln year ago
--Adani Ent Jan-Mar consol net loss INR 2.21 bln vs PAT INR 38.45 bln yr ago
--Adani Ent Jan-Mar consol revenue INR 324.39 bln
--Adani Ent Jan-Mar consol net loss INR 2.21 bln
 

 

By Sunil Raghu

 

AHMEDABAD – Adani Enterprises Ltd. posted a net loss for the March quarter as its overall expenses jumped on year, led primarily by a rise in raw material costs, and a fall in revenue from its integrated resources management segment, a major revenue earner. The company recorded a consolidated net loss of INR 2.21 billion for the March quarter, against a net profit of INR 38.45 million in the year-ago quarter.

 

The consolidated revenue of the company for the March quarter was INR 324.39 billion, up over 20% on year and nearly 31% on quarter. Adani Enterprises' consolidated earnings before interest, taxes, depreciation, and amortisation for the March quarter was up 3% on year at INR 44.79 billion. 

 

The company had posted a net profit in the previous two quarters due to one-time income from the sale of a stake in AWL Agri Business Ltd. Excluding the one-time income, Adani Enterprises would have posted a net loss in both the September and December quarters.

 

Consolidated sales from the integrated resources management segment were INR 68.62 billion, down nearly 33% on year. The segment typically accounts for over 21% of the company's consolidated revenue. Low volume and prices led to the decline in revenue for this segment, the company said. The company's resource management sales volume was 9.3 million tonnes, down 40% on year.

 

Revenue from the company's mining services segment was INR 12.63 billion for the March quarter, up nearly 2% on year. Consolidated revenue from the new energy ecosystem was INR 51.35 billion, up nearly 41% on year. The airports segment's consolidated revenue for the reporting quarter was INR 34.50 billion, up over 21% on year. The company's consolidated revenue from the roads division also fell in the March quarter to INR 11.96 billion, from INR 27.84 billion in the same quarter last year. Its consolidated revenue from the copper operations, however, jumped to INR 91.45 billion in Jan-Mar, from INR 13.46 billion in the year-ago quarter.  

 

The company's consolidated operating margin for the March quarter came in at 11.50%, compared to 13.78% in same quarter a year ago.

 

Adani Enterprises' total expenses were INR 324.58 billion for the March quarter, up over 23% on year. Of this, the cost of materials consumed more than tripled on year to INR 118.28 billion, from INR 35.90 billion in the March quarter of FY25. Tax expenses fell to INR 8.54 billion from INR 12.84 billion a year ago.

 

For 2025-26 (Apr-Mar), the consolidated net profit of the company was INR 93.39 billion, up nearly 32% on year. The consolidated revenue for the same period was INR 1.01 billion, up nearly 3% on year. The company's board also approved a dividend of INR 1.3 per share, and set the record date as Jun. 12. The board also agreed to the company's request to let it raise up to INR 150 billion by issuing equity shares.

 

As on Mar. 31, this flagship company of the Adani group had a net debt of INR 640.51 billion, up from INR 493.06 billion a year ago. The maximum amount of debt--INR 297.46 billion--belongs to the airports segment, followed by road projects, for which it has borrowed INR 171.79 billion, as per the presentation accompanying the March quarter and FY26 earnings filings.

 

Adani Enterprises released its earnings after market hours Thursday. Shares of the company closed 0.7% lower at INR 2,408.40 on the National Stock Exchange.  End

 

Edited by Tanima Banerjee

 

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