Adani Enterprises Ltd. (AEL), the flagship company of the Adani Group, reported net profit for the quarter ended December 31, 2024, plunged 97% to ₹58 crore from ₹1,888 crore in the year-earlier period as key coal trading volumes were hit.
For the quarter, the company’s revenues also dropped 8% to ₹23,501 crore as compared with ₹25,540 crore in the same period last year.
Coal trading saw volumes decline 42% to 21.1 million tonnes in October-December 2024.
For April-December 2024, coal trading registered a 28% decline at 41.2 million tonnes.
Pre-tax profit (EBITDA) from the coal trading segment, which contributes more than a third of overall revenue, halved to ₹745 crore as volumes fell.
The volume drop was primarily because of lower demand from the power sector where the share of renewable energy sources has risen. “Strong growth across our incubating businesses — from energy transition to logistics and adjacencies — highlights the immense potential of our core plus portfolio,” said Gautam Adani, chairman, Adani Group.
“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 said.
(With PTI inputs)
Published - January 30, 2025 11:35 pm IST
