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The quarterly profits attributable to the owners Adani Enterprises Ltd (AEL) -- the flagship company of the Adani Group -- fell sharply by 97 per cent to ₹58 crore in the third quarter of financial year 2024-25. The company attributed the dip in profits to forex market-to-market loss, primarily from the Australia business, and due to low volumes from the Integrated Resource Management Business. The total income of the company for the third quarter also fell by 8 per cent to ₹23,501 crore.
Low volumes in the company’s Integrated Resource Management Business -- engaged primarily in coal trading -- caused strain on the company’s profits. The company also said that high notional forex MTM loss in finance cost of Australia mining caused due to a depreciation in Australian Dollar also adversely impacted the profits. The revenues of IRM business fell by 41 per cent to ₹9562 crore during the third quarter.
However, during the same period, the revenues from mining services grew by 67 per cent and those from airports and ANIL (Adani New Industries Ltd) ecosystem rose by 33 per cent and 38 per cent, respectively. The company in an official statement said that both its profits and total income have grown during the last nine months of the current fiscal. AEL’s income grew by six per cent to ₹72,763 crore, its Profit After Tax grew by 17 per cent to ₹3254 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. “Strong growth across our incubating businesses, from energy transition to logistics and adjacencies, highlights the immense potential of our core plus portfolio. These results are a testament to our focus on execution, operational excellence, innovation and sustainability as we continue to set new benchmarks across sectors.
With each milestone, AEL reaffirms its commitment to creating long-term value for its stakeholders while contributing to India’s progress and global competitiveness,” he added without commenting on the sliding revenues of the coal trading unit or the stress caused due to foreign exchange during the third quarter. During the third quarter of the current fiscal, Adani Airports handled 24.6 million passengers, a growth of 8 per cent.
The airports also handled 2.7 lakh tons of cargo, a growth of nine per cent year-on-year. The shares of AEL fell on the BSE by almost three per cent to ₹2249.
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