Adani Flagship’s Profit Rises 663% on Airport, Energy Units
- Coal trading unit is still a pain point, revenue fell 25%
- Adani Enterprises’s shares climbed 1.8% after earnings
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Adani Enterprises Ltd. posted a nearly eight-fold surge in quarterly profit, as a strong show by airports and new energy units offset the drag from coal trading business. Shares rose.
The flagship firm of billionaire Gautam Adani’s empire reported 663% jump in net income to 17.4 billion rupees ($207 million) for the quarter ended Sep. 30, compared with the same period last year, according to an exchange filing Tuesday. There weren’t enough brokerages with profit estimates to derive an average forecast.