Adani Enterprises Q1 profit jumps on strong new energy business
Adani Enterprises on Thursday reported a 44 per cent rise in first-quarter profit, as performance at its new energy division outpaced a weak growth in the key coal trading division.
The company’s consolidated profit rose to 6.74 billion rupees ($81.5 million) for the quarter ended June 30, from 4.69 billion rupees a year ago.
The company’s mainstay coal business posted a small 5 per cent rise in earnings before interest, taxes, depreciation and amortization (EBITDA) at 10 billion rupees due to a fall in coal prices, while that of the Adani New Energy segment jumped seven-fold to 3.55 billion rupees.
