Adani Enterprises Faces Profit Slide Amid Weak Coal Demand But Sees Airport Business Growth
Adani Enterprises Ltd reported a 49% drop in profit for the June quarter due to weak coal demand but saw substantial growth in its airport operations. Revenues from coal trading decreased significantly, while the firm's clean energy unit and airport business showed promise, indicating a strategic shift towards new infrastructure projects.
- Country:
- India
Adani Enterprises Ltd, the core unit of tycoon Gautam Adani's conglomerate, announced a 49% profit decline for the June quarter, largely attributed to reduced coal demand.
The drop occurred despite notable gains in the company's airport division, which posted a 61% rise in pre-tax profit amid increased passenger movement.
Future growth is anticipated in the clean energy and infrastructure sectors, with milestone projects such as India's first off-grid green hydrogen pilot plant and a series of airport expansions.
(With inputs from agencies.)
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