Adani Enterprises Q3 Results: Profit nearly wiped out, falls 97% YoY to Rs 58 crore

Adani Enterprises, the flagship company of Adani Group, saw its profit (attributable to owners) nearly wiped out in the third quarter ended December 2024.

The company said earnings were impacted by high notional forex MTM loss in finance cost of Australia mining due to the depreciation of AUD.

The bottomline fell as much as 97% to Rs 58 crore, compared with Rs 1,888 crore in the last-year quarter.

Revenue from operations in the reporting quarter declined 9% year-on-year (YoY) to Rs 22,848 crore.

Following the results, the company’s shares plunged more than 4%, hitting the day’s low of Rs 2,220.35.

The company reported an EBITDA of Rs 3,071 crore, down 5% YoY. The same stood at Rs 3,227 crore in the December quarter of the previous fiscal.On a sequential basis, the profit after tax also dropped 97% from Rs 1,742 crore posted in the second quarter of the current fiscal. Revenues, meanwhile, showed a marginal bump (1%) quarter-on-quarter.Other income during the third quarter rose 33% YoY to Rs 652 crore, compared with Rs 490 crore in the corresponding quarter of the previous fiscal.

Total expenses declined 1% YoY to Rs 22,925 crore in the October-December period. The same stood at Rs 23,180 crore in the year-ago period.

In the nine-month period, Adani Enterprises reported 6% growth in its revenues to Rs 72,763 crore and the PAT rose 17% YoY to Rs 3,254 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.

Segment-wise, the Adani New Industries business recorded 38% YoY growth in its total income at Rs 2,941 crore and the profit before tax (PBT) increased 26% YoY to Rs 691 crore.

The solar manufacturing module sales recorded 3.3 GW during nine months on the back of export growth of 20% and a domestic sale increase of 176%

“EBITDA margins continued to rise on account of improved realization and operational efficiency through integrated production of cell and module line,” the company said.

During the quarter, a 3.3 mw WTG model got listed in RLMM, taking Adani New Industries’ wind business offerings to four listed WTG models.