Adani Enterprises Nets 97% Profit Decline Amid Coal Volume Drop

Adani Enterprises reported a staggering 97% decline in its net profit for the third quarter of FY25, dropping to Rs 57.83 crore from Rs 1,888.45 crore the previous year, primarily due to reduced coal trading volumes and a foreign exchange loss linked to the Australian dollar's depreciation. Revenue from operations fell by 9% to Rs 22,848.42 crore, heavily impacted by lower coal demand as the power sector increasingly relies on renewable energy sources. Despite these challenges, the company noted a 17% increase in net profit for the first nine months of the fiscal year, reaching Rs 3,254 crore. The decline in profitability has raised concerns among investors, reflected in a 5.1% drop in share prices following the earnings announcement. Chairman Gautam Adani emphasized the company's commitment to infrastructure and energy transition sectors, highlighting growth in other areas such as logistics and renewable energy. The report comes amid ongoing scrutiny related to allegations of bribery against Adani and his nephew in the U.S., further complicating the company’s financial landscape.