Shares of Adani Enterprises Ltd (AEL) plunged in Thursday's trade after the flagship Adani Group entity's year-on-year (YoY) consolidated net profit dwindled in the December 2024 quarter (Q3 FY25). During the quarter under review, profit attributable to owners tumbled 96.93 per cent to Rs 57.83 crore from Rs 1,888.45 crore in the year-ago period (Q3 FY24).
The company's revenue from operations slipped 8.78 per cent to Rs 22,848.42 crore as against Rs 25,050.23 crore in the corresponding period last year.
Revenue from the coal trading segment (integrated resources management), which contributes more than a third of overall revenue, fell 43.95 per cent to Rs 8,979.61 crore in Q3 FY25 compared to Rs 16,021.04 crore in Q3 FY24.
AEL said its nine-month results represent strength and consistency of its incubating businesses, which have delivered robust operational and financial performance quarter after quarter.
"Strong growth in the emerging core infra businesses led by Adani New Industries (Green Hydrogen Ecosystem) and Adani Airports reflect the scale of opportunities of their respective sectors. During nine-months ended December 31, 2024, AEL has recorded its highest consolidated nine-months EBITDA of Rs 12,377 crore with contribution of 62 per cent from incubating businesses," it stated in a release.
This exceptional nine-month performance underscores AEL'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.
AEL also stated that its Navi Mumbai Airport successfully conducted first commercial flight validation test and is now a step closer to become operational. Overall, it added 14 new routes, four new airlines and nine new flights during the quarter.
The quarterly results were declared during market hours today. AEL shares tanked 5.04 per cent to hit a day low of Rs 2,202. It was last seen trading 2.86 per cent lower at Rs 2,252.40. At this price, the scrip has corrected 28 per cent in the past six months.