Adani Enterprises Q2 results: Net profit rises 84%, revenue slips to ₹21,249 crore YoY

The Adani Group’s flagship company revenue from operations, however, declined 6% to ₹21,249 crore in the July-September quarter as against ₹22,608 crore seen in the year-ago period.

Adani Ports' operating profit, also known as earnings before interest, taxes, depreciation, and amortisation (EBITDA), slipped 18.2% to ₹3,358 crore as compared to ₹4,106 crore in the corresponding quarter of the previous fiscal year.

Its EBITDA margin, however, contracted to 15.8% in the reporting quarter from 18.16% in Q2 FY25.

The EBITDA was impacted primarily on account of a decrease in trade volume and price volatility in IRM and commercial mining.

Along with the earnings, the Adani Enterprises board has approved a rights issue of partly paid-up equity shares with a face value of ₹1 each, amounting to up to ₹25,000 crore. The issue will be offered to eligible shareholders as on a record date, which will be announced later, the firm said in a regulatory filing.

For H1 FY26, Adani Enterprises reported consolidated revenue of ₹44,281 crore and EBITDA of ₹7,688 crore. Its profit before tax (PBT) stood at ₹2,281 crore, excluding an exceptional gain of ₹3,583 crore, reflecting resilient operational performance across its core businesses, the firm said.

In the same period, the company’s airport arm, AAHL, delivered a 51% year-on-year increase in EBITDA to ₹2,157 crore, with the airports business now operating at a quarterly run rate of over ₹1,000 crore.

Investment updates

Under asset completion milestones, Adani Enterprises inaugurated Greenfield Navi Mumbai International Airport on October 8, 2025, which is set to begin operations in Q3 FY26. The company also received the Provisional Commercial Operation Date (PCOD) for the Nanasa-Pidgaon road project, taking its portfolio of operational road assets to seven.

On the investment front, the Gautam Adani-led firm continued to expand its infrastructure footprint, having secured Letters of Award (LoAs) for three new road projects and two water projects with a combined order book of ₹19,982 crore.

Additionally, AdaniConnex has entered into a partnership with Google to develop India’s largest AI data centre campus in Visakhapatnam, marking a significant step in strengthening the country’s digital infrastructure ecosystem.

Management comment

“With disciplined execution and strategic diversification, Adani Enterprises Ltd continues to strengthen its position as India’s leading incubator of transformative infrastructure and energy businesses,” said Gautam Adani, Chairman of the Adani Group.

Adani further noted that the company’s strong performance across airports, data centres, and roads reflects the growing momentum of its core infrastructure portfolio. He added that partnerships like the one with Google for India’s largest AI data centre, along with rapid progress in the green energy ecosystem, are propelling Adani Enterprises’ efforts to accelerate India’s transition toward a sustainable and technology-driven future.

Following the earnings, shares of Adani Enterprises were seen at ₹2,403 apiece on the National Stock Exchange, falling 2.59%.