Bad news for Gautam Adani, India's 2nd richest man, as his flagship firm's profit drops 49% to Rs...

Indian billionaire Gautam Adani continues to lead one of the biggest conglomerates in India. His Adani Group has a presence in several sectors. However, the first quarter of FY26 didn't go well for his flagship firm, Adani Enterprises Ltd. The company of the billionaire group has reported a 49 per cent decline in the June quarter profit as weak coal demand offset growth in the airport and mining units.

Adani Enterprises' quarter 1 results

The company posted a net profit of Rs 734 crore in April-June -- the first quarter of the 2025-26 fiscal year -- compared with Rs 1,458 crore earned in the same period a year back, according to a company statement. A drop in coal-fired power demand, mainly due to a milder summer and earlier-than-expected monsoon, weighed on the mainstay coal trading division of the company, which contributes 36 per cent of the revenue. It traded 17 per cent less volumes at 12.8 million tonnes during the quarter.

Revenue from operations fell 14 per cent to Rs 22,437 crore, hurt by a 27 per cent decline in its coal trading unit. "Results for the quarter impacted primarily on account of the decrease in trade volume and volatility of index prices in IRM (integrated resources management) and commercial mining," the statement said.

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With landmark assets like the Navi Mumbai International Airport, the Copper Plant, and the Ganga Expressway set to become operational, the firm is accelerating its mission to build next-generation infrastructure platforms that are globally benchmarked, technologically advanced and strategically vital to India's growth story, he said.

Adani Enterprises' market cap

The Adani-led firm currently has a market cap of Rs 2.81 lakh crore, as of July 31. The shares of the company closed at Rs 2,430 on NSE.

(With inputs from PTI)