Adani Enterprise Q2 net profit halves to ₹227.82 crore

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₹ ₹227.82 crore, hurt by weak performance in its key coal trading division. Revenue during the period stood at ₹22,517.3 crore, down 41% from ₹38,175.23 crore a year ago, according to a regulatory filing. Consolidated Ebitda (earnings before interest, taxes, depreciation, and amortization) rose 39% to ₹2,979 crore on account of strong incubating businesses.

Integrated resources management revenue slumped 59% year-on year to ₹12,505 crore in three months to September from ₹30,664 crore a year ago, impacted by correction in coal prices and lower sales volume. “We are fundamentally reshaping the essence of incubation scale and velocity," said Gautam Adani, chairman of the Adani Group. “Adani Enterprises covers sectors that span energy, utility, transport, D2C, and primary industries.

With many ventures now market-ready and thriving, our H1 FY23-24 results have been boosted by the core infra incubating businesses, thereby being a strong testament to our incubating ventures," he added. New energy ecosystem revenue stood at ₹1,939 crore during the period under review, rising 216% YoY. Having opened at ₹2248 apiece today on the BSE, shares of the company pared gains to end the day lower at ₹2,212.