Billionaire Gautam Adani’s flagship firm on Thursday reported halving of the second quarter net profit as losses in the mining business widened and operating expenses rose.
Adani Enterprises Ltd’s July-September quarter consolidated net profit of ₹222.82 crore was down 50.5 per cent when compared with ₹460.94 crore net profit in the same period last year, according to a stock exchange filing by the company.
While operating expenses rose 8 per cent, the company booked a one-time loss of ₹88 crore on realisable value of assets held for sale of one of the subsidiaries of the group, Mundra Solar PV Ltd.
