Adani Enterprises Reports 54% Drop in Q2 Net Profit to ₹1,492 Crore Despite Revenue Surge

Adani Enterprises Ltd (AEL), the flagship company of the Adani Group, has reported a 54 per cent year-on-year decline in consolidated net profit to ₹1,492 crore for the second quarter of FY27. In the corresponding quarter of the previous financial year, the company had recorded a net profit of ₹3,304 crore.

The decrease in net profit comes despite a sharp increase in revenue from operations. During the September quarter, AEL's revenue surged 75 per cent year-on-year to ₹37,216 crore, compared to ₹21,248 crore in Q2 FY26. The growth was primarily driven by a substantial expansion in the copper business, which saw its revenue rise 11-fold to ₹14,772 crore.

Several other segments also reported revenue increases during the quarter. The Integrated Resources Management (IRM) business grew 6.6 per cent to ₹7,097 crore, while commercial mining rose 45 per cent to ₹2,489 crore. The New Energy Ecosystem business recorded a 13 per cent increase to ₹3,572 crore, and the airports business posted a 15 per cent rise to ₹3,698 crore.

However, certain segments faced contractions. Revenue from mining services declined 7 per cent year-on-year to ₹985 crore, while the roads business saw a sharp decrease of 74 per cent, bringing its revenue down to ₹430 crore.

Commenting on the financial results, Gautam Adani, Chairman of the Adani Group, stated in an official release that the company has focused on executing large and complex commitments at scale across its integrated energy, airports, and AI ecosystems. He noted that domestic and global investor partnerships have continued amid market volatility, reflecting ongoing confidence in the group's growth strategy.

On the operational front, AEL completed the expansion of its Adani New Industries (ANIL) solar module manufacturing capacity to 10 GW after commissioning a 4.3 GW TOPCon module line in September 2026. Construction on an additional 6 GW solar cell manufacturing line is also progressing as scheduled. In its data centre business, AdaniConnex secured a new hyperscale order for 240 MW in Navi Mumbai, lifting its cumulative tied-up capacity to over 1.2 GW, with operational capacity reaching 94.6 MW.

The copper business continued to scale operations, with sales volumes multiplying 5.2 times year-on-year during the first half of FY27 to reach 145.3 kilotonnes. Additionally, AEL received a long-term credit rating upgrade to AA with a Stable outlook from CARE Ratings.

Following the announcement of the quarterly results, shares of Adani Enterprises ended the trading day 0.32 per cent lower at ₹2,482 on the Bombay Stock Exchange (BSE).

"Adani Enterprises' Q2 performance highlights a classic corporate scenario where rapid top-line expansion does not immediately translate to proportional bottom-line growth. While the exponential scaling of the copper business and infrastructure verticals like airports and energy drive strong revenue numbers, managing margin pressures and sector-specific contractions remains critical. For large conglomerates scaling complex operations across multiple sectors, balancing aggressive capital expenditure with sustainable profitability is essential to maintaining long-term investor confidence and financial stability." — Dr. Shishir Gupta, Founder & CEO, StartupLanes