Adani Energy Solutions posts 21% drop in Q2 profit, misses estimates

Adani Energy Solutions on Monday reported a 21% fall in its net profit in the second quarter of the current fiscal at Rs 534 crore, missing analyst estimates of Rs 742 crore. The Adani Group firm had reported a profit of Rs 675 crore in the corresponding quarter of the previous fiscal.

In Q2, the company had a one-time positive impact of deferred tax of Rs 314 crore. In like-for-like comparison, its Q2 adjusted PAT was up 21% year-on-year, it said.