Adani Q2 Profit Up 84%; Rs25,000cr Rights Issue

Adani Enterprises approved a Rs 25,000 crore rights issue (about $2.8bn) to strengthen its balance sheet and fund expansion, and its shares fell about 2.7% on the announcement. The company reported consolidated Q2 net profit of Rs 3,199 crore, an 84% year‑on‑year rise driven by a one‑time gain of Rs 3,583 crore from the sale of its 13.51% stake in Adani Wilmar; adjusted core profit excluding one‑offs fell roughly 66% to about Rs 814 crore. Core earnings were weighed down by weakness in coal trading (coal trading revenue down ~29% and pre‑tax profit down ~22%), even as new‑energy and airports units posted growth. The rights proceeds will be used to strengthen the balance sheet and fund expansion across infrastructure incubation businesses, including data‑centre and green‑energy projects such as a planned AI data‑centre campus with Google. Separately, Adani Ports posted a stronger quarter with net profit up about 29% to Rs 3,120 crore and improved margins, prompting Fitch to revise its outlook to Stable; a SEBI inquiry this year found no regulatory violations related to the group's earlier Hindenburg allegations, which the group has dismissed.