Adani Enterprises Q2 results: Profit jumps 84% on one-time gains; core earnings fall on coal slump, revenue dips 6% YoY

Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, reported an 84% year-on-year rise in consolidated net profit to Rs 3,199 crore for the September quarter, boosted by a one-time gain from the sale of its stake in AWL Agri Business Ltd (formerly Adani Wilmar Ltd).However, excluding the exceptional gain of Rs 3,583 crore from the 13.51% stake sale, the company’s adjusted profit fell sharply by 66.2% to Rs 814.35 crore, compared to Rs 2,408.89 crore in the year-ago quarter, PTI reported.Consolidated revenue from operations declined 6% year-on-year to Rs 21,844 crore, mainly due to lower coal volumes and prices. The company’s EBITDA also weakened as its coal trading business saw a 29% drop in revenue to Rs 6,843 crore and a 22% fall in pre-tax profit to Rs 726 crore.The company’s board also approved a rights issue of up to Rs 25,000 crore to fund its expansion across airports, roads, and renewable energy – the largest fundraising effort since the cancellation of its Rs 20,000 crore FPO in 2023 following the Hindenburg Research report.The airport division continued to perform strongly, reporting a 39% jump in revenue and a 43% rise in pre-tax profit, while the new energy segment – which includes solar and wind businesses – saw modest growth with revenue up 3% and pre-tax profit up 5%.AEL said it validated its execution strength during the quarter with completion of major projects, including the Navi Mumbai airport and its seventh road project. The company’s core infrastructure businesses contributed 71% of its total EBITDA, recording Rs 5,470 crore in the first half of FY26, up 5% year-on-year.“With disciplined execution and strategic diversification, Adani Enterprises continues to strengthen its position as India’s leading incubator of transformative infrastructure and energy businesses,” said Gautam Adani, Chairman, Adani Group.He added that strong performance across airports, data centres, and roads reflected the “momentum of the core infrastructure portfolio.” Adani highlighted ongoing partnerships -including one with Google for India’s largest AI data centre -and rapid progress in green energy as part of the group’s push toward a “sustainable, technology-driven future.”During the quarter, Adani airports handled 22.6 million passengers, solar module sales rose 9%, and wind turbine generator volumes surged 87%. Road construction output more than doubled to 456.1 line kilometres, while coal volumes fell 17% to 11.3 million tonnes.“Domestic solar module sales increased 43% during the first half of FY26, with new 6 GW cell and module capacity on track for commissioning,” the company said.