Adani Enterprises Ltd reported its consolidated earnings for the quarter ended September 30, 2025, posting strong profit growth despite a decline in revenue. The company reported consolidated revenue of Rs 21,844.07 crore in Q2 FY26, marking a 6% YoY decline from Rs 23,196.18 crore in the same quarter last year. Sequentially, revenue also dipped from Rs 22,436.62 crore in Q1 FY26.
Net profit surged to Rs 3,414.43 crore, recording a 72% YoY rise compared to Rs 1,989.19 crore in Q2 FY25. On a sequential basis, profit jumped sharply from Rs 976.48 crore reported in June 2025, driven by exceptional income during the quarter.
Total expenses stood at Rs 21,092.79 crore, compared to Rs 20,872.89 crore YoY and Rs 20,970.34 crore QoQ, reflecting higher operating and administrative costs.
Profit before exceptional items and tax stood at Rs 814.35 crore, down from Rs 2,408.89 crore YoY and Rs 1,466.28 crore in the previous quarter. However, an exceptional gain of Rs 3,583.28 crore boosted the bottom line.
Tax expenses for the quarter were Rs 1,001.07 crore, versus Rs 512.37 crore YoY and Rs 571.25 crore QoQ.
Q2 FY26 Performance
| Metric | Q2 FY26 | YoY change | QoQ change |
|---|---|---|---|
| Revenue | Rs 21,844.07 cr | -6% YoY | -3% QoQ |
| Profit before tax | Rs 4,397.63 cr | +121% YoY | +200% QoQ |
| Net profit | Rs 3,414.43 cr | +72% YoY | +250% QoQ |
H1 FY26 Performance
For the six months ended September 2025:
- Revenue: Rs 44,280.69 crore vs Rs 49,262.90 crore YoY
- Net profit: Rs 3,761.45 crore vs Rs 3,770.75 crore YoY
Total expenses for H1 FY26 came in at Rs 42,000.06 crore, compared with Rs 44,618.47 crore in the same period last year.
Financial Snapshot (Rs crore)
| Particulars | Q2 FY26 | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 21,844.07 | 22,436.62 | 23,196.18 |
| Expenses | 21,092.79 | 20,970.34 | 20,872.89 |
| PBT | 4,397.63 | 1,466.28 | 1,989.19 |
| Net Profit | 3,414.43 | 976.48 | 1,989.19 |
Adani Enterprises’ bottom-line performance was supported by exceptional gains and improved operating leverage, even as revenue moderated on a yearly basis.
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