Adani Enterprises Q3 results: Net profit up 97x to ₹5,627cr
What's the story
Adani Enterprises has reported a whopping 97-fold jump in its consolidated net profit for the December quarter. The company posted a net profit of ₹5,627 crore during the period under review, as compared to just ₹58 crore in the same period last year. The massive growth is mainly due to a one-time gain from the sale of its stake in Adani Wilmar Limited (AWL).
Profit boost
One-time gain from sale of stake in AWL
The company's profit after tax (PAT) attributable to the owners of the parent company includes a one-time gain of ₹5,632 crore on the sale of its stake in AWL. The group's post-tax gain stood at ₹4,661.11 crore. Following this deal, Adani Wilmar is no longer an associate company of the parent firm.
Revenue growth
A look at revenue from operations
Adani Enterprises's consolidated revenue from operations for the December quarter stood at ₹24,820 crore, marking an 8.6% year-on-year jump from ₹22,848 crore in the same period last year. The company's integrated resources management business reported a revenue of ₹6,962.47 crore against ₹8,979.61 crore in the year-ago period, while mining services segment posted a revenue of ₹968.46 crore against last year's ₹836.16 crore.
Segment performance
New energy ecosystem segment
The new energy ecosystem segment of Adani Enterprises recorded a revenue of ₹3,124.33 crore, up from the ₹2,816.44 crore in the corresponding quarter last year. Airport operations also saw a steady improvement, with revenues reaching ₹3,842.41 crore as compared to ₹2,908.38 crore in Q3 FY25.
Strategic partnership
Adani Enterprises inks MoU with Leonardo
In a separate regulatory filing, Adani Enterprises announced the signing of a Memorandum of Understanding (MoU) with Leonardo, which is a global leader in defense, aerospace and security. The partnership is aimed at creating an integrated helicopter making ecosystem in India to meet the growing demand from Indian armed forces and promote self-reliance in helicopter production.