India’s Adani Enterprises reported a near 50% drop in second-quarter profit on Thursday, hurt by weakness in its key coal trading division due to a fall in prices.
The Adani group’s flagship company posted a consolidated profit of 2.28 billion rupees ($27.40 million) for the quarter ended Sept 30, down from 4.61 billion rupees a year ago.
Coal prices have fallen from the record highs hit last year and have stabilised from the volatile situation in 2022 when Western sanctions on Russia pushed up global prices.
