Adani Enterprises Q2: Profit falls 55% as one-off gains lift year-ago base; revenue jumps 75%
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Adani Enterprises reported a 54.8% year-on-year decline in profit attributable to owners for the September quarter, largely reflecting the absence of exceptional gains recorded in the year-ago period. Revenue, however, rose sharply, while operating profit increased on a calculation based on the company's consolidated financial statements.
Profit attributable to owners fell to ₹1,492 crore in Q2 FY27 from ₹3,304 crore a year earlier. The September 2025 quarter included exceptional gains of ₹3,583.28 crore, comprising gains linked to the sale of Adani Wilmar's stake and the amalgamation of Adani Cementation. No exceptional item was recorded in the latest quarter.
The company's profit before exceptional items and tax increased 146% to ₹2,002 crore from ₹814 crore, indicating an improvement before accounting for one-off items.
Revenue from operations rose 75.1% to ₹37,216 crore from ₹21,249 crore.
EBITDA rises 62% to ₹6,316 crore
Adani Enterprises reported consolidated EBITDA of ₹6,316 crore for the September quarter, up 62% from ₹3,902 crore a year earlier, according to its investor presentation.
The company's earnings presentation attributed the improvement in its established businesses to the ramp-up of the copper plant and favourable movements in commodity prices. Its incubating infrastructure businesses continued to record strong performance, led by airports.
Copper and airports drive growth
Adani Enterprises said its copper plant operated at around 64% of annual capacity during the quarter, as production ramped up. Copper production rose to 80.2 thousand tonnes from 12.9 thousand tonnes a year earlier, while sales increased to 80.6 thousand tonnes from 11.8 thousand tonnes.
The airports business also reported growth, supported by higher non-aeronautical revenue from activities such as food and beverages, retail, lounges and ground handling.
Revenue at Adani Airport Holdings rose 20% year-on-year to ₹3,786 crore in Q2 FY27 from ₹3,167 crore. EBITDA increased 55% to ₹1,641 crore from ₹1,062 crore, according to the investor presentation.
The presentation also said its “Incubating Core Infra businesses EBITDA continues to record strong performance led by Airports”.
Adani said copper plant capacity utilisation reached around 64% during the quarter. At its airports business, revenue from non-aeronautical activities, including food and beverages, retail, lounges and ground handling, continued to grow.