Adani Enterprises' Q4 Profit Tumbles 38% Amid Rising Costs and Exceptional LossesAdani Enterprises' Q4 Profit Tumbles 38% Amid Rising Costs and Exceptional Losses

Adani Enterprises reported a 38% drop in Q4 net profit for FY24, recording Rs 450.58 crore, down from Rs 722.48 crore the previous year. The decrease was attributed to one-time airport dues and losses in commercial mining.

The company’s consolidated net profit contrasted sharply with the previous quarter’s earnings of Rs 1,888.45 crore. Despite a challenging quarter, its incubator businesses in sectors such as airports and new energy showed strong performance momentum.

Adani’s EBITDA fell by 8% in Q4 to Rs 3,646 crore. The commercial mining segment recorded a loss of Rs 201.83 crore, and earnings from the roads sector plunged by 84%, affected by exceptional costs at Mumbai International Airport Ltd (MIAL).

Adani New Industries Limited (ANIL), focusing on new energy, saw a 6.2x growth in EBITDA to Rs 641 crore. Airport operations also improved, with EBITDA more than doubling to Rs 662 crore, boosted by a 19% increase in passenger numbers.

Despite a slight annual increase in revenue to Rs 29,180.02 crore, overall net profit for FY24 grew by 31% to Rs 3,240.78 crore. This was achieved even as yearly revenue fell compared to the previous fiscal year.

Adani Enterprises declared a Rs 1.3 per share dividend for FY24. Post-Q4 results, its stock experienced a slight decline. The company also plans significant investments in digital infrastructure and green energy, aiming for net zero emissions by 2050 across its operations.